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crypto.news 2024-12-10 19:19:06

‘It’s another stock market for him’: Trump to focus on Bitcoin price after inauguration

President-elect Donald Trump will reportedly make Bitcoin a central focus of his administration, aiming to push the price of Bitcoin to $150,000. According to sources from the Trump transition team who spoke to Axios , the former President and now President-elect views Bitcoin ( BTC ) as “another stock market” and anticipates a potential price surge to $150,000 early in his term. Trump’s interest in Bitcoin is part of a broader initiative to position the U.S. as a global leader in emerging technologies. David Sacks, a former PayPal executive, has been appointed as the White House AI & Crypto Czar, tasked with establishing a clear legal framework for the crypto industry. The Trump administration intends to promote regulations that provide clarity for crypto businesses while fostering innovation. According to Axios, their goal is to develop a “legal framework so the crypto industry has the clarity it has been asking for.” You might also like: Microsoft shareholders reject Bitcoin treasury proposal Donald Trump’s embrace of crypto Trump’s public enthusiasm for Bitcoin was highlighted in a recent Truth Social post celebrating the cryptocurrency’s record-breaking $100,000 price. His administration is expected to capitalize on this momentum to attract investment and encourage the adoption of digital assets as part of a broader economic strategy. During his recent campaign, Trump publicly expressed support for cryptocurrency, marking a significant shift from his mixed views in the past. For instance, in 2019, he described Bitcoin as “highly volatile” and expressed skepticism about its value. However, during the latest election cycle, Trump stated his willingness to embrace cryptocurrency if elected for a second term. “Crypto is moving out of the U.S. because of hostility toward it. I don’t want that. If we are going to embrace it, we will have to let it thrive here,” he said at a recent rally. You might also like: Ripple overtakes Solana’s market cap as CATZILLA eyes to outshine meme coins with 10,500% surge

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