Trump’s First 100 Days Boost Cryptocurrency Market
(MENAFN) US President Donald Trump’s initial 100 days in office significantly boosted the cryptocurrency market as he set his sights on making the US the “crypto capital of the world,” propelling Bitcoin to a record-breaking $110,000.
Upon taking office on January 20, Trump appointed several prominent pro-crypto figures to key positions, including Secretary of Commerce Howard Lutnick, Secretary of the Treasury Scott Bessent, and Paul Atkins as the head of the US Securities and Exchange Commission (SEC).
Trump also tapped South African billionaire David Sacks, a close associate of Elon Musk, as the White House’s new AI and crypto czar.
In his first day in office, Trump signed several executive orders, including directives focused on boosting cryptocurrency development within the US and exploring the potential for a national cryptocurrency stockpile.
The president followed through with the creation of “the Strategic Bitcoin Reserve and the US Digital Asset Stockpile.” which would include Bitcoin already owned by the federal government, with no added cost to taxpayers. Future plans for the reserve involve incorporating additional cryptocurrencies like Ethereum, Ripple, Solana, and Cardano.
Trump also hosted a “Digital Asset Summit” where he revealed that the federal government holds 200,000 Bitcoins, forming the foundation of the new reserve. He reiterated his support for legislation in Congress that advances the digital asset space.
In a further crypto push, Trump launched his own digital currency, the Official Trump (TRUMP), shortly after assuming office. He also announced plans to meet with major investors in May to encourage them to back his coin.
The president’s financial venture, World Liberty Finance, operates through his businesses and the Trump family.
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