The Bitcoin Boom: Trump’s Crypto Connection

Bitcoin hit a monumental $100, 000 mark on Wednesday, and it seems President-elect Donald Trump wants in on the celebration. “CONGRATULATIONS BITCOINERS! ! ! $100, 000! ! ! YOU’RE WELCOME! ! ! ” Trump posted on his Truth Social platform, taking some credit for the milestone. This comes after naming Paul Atkins as the next SEC chairman, a move seen as a positive step by the crypto community. Atkins, a former SEC commissioner, is known for his pro-crypto stance and has been advocating for the industry for years.Trump’s shift in attitude towards crypto is notable. He once called Bitcoin a “scam, ” but now he’s proposing a national Bitcoin reserve and promising to make the U. S. the global crypto capital. As of Thursday morning, Bitcoin was trading at $103, 025, having reached $103, 679 overnight. This growth is significant, especially compared to its $1 price in 2011. Early investors have seen substantial returns, with a $1, 000 investment in January 2024 growing by 120% this year alone.