Trump’s First 100 Days Spark US Crypto Revolution
(MENAFN) In his initial 100 days in office, U.S. Leader Donald Trump significantly energized the cryptocurrency sector. With a vision to transform the United States into the “crypto capital of the world,” his administration’s early initiatives sparked a remarkable surge in digital currencies, propelling Bitcoin to an unprecedented value of USD110,000.
Trump assumed the presidency on January 20 and selected several prominent cryptocurrency advocates for major government roles. Among them were Howard Lutnick, who became Secretary of Commerce, and Scott Bessent, chosen for Secretary of the Treasury. In addition, he named Paul Atkins as head of the U.S. Securities and Exchange Commission (SEC), signaling a clear pro-crypto stance.
Further reinforcing his administration's commitment to digital innovation, Trump appointed South African billionaire David Sacks as the White House authority on artificial intelligence and cryptocurrencies.
Sacks, known for his ties to entrepreneur Elon Musk, was tasked with shaping crypto-related policy and technological advancement.
On his first day, Trump inked numerous executive directives, including those focused on virtual currencies.
One of the key actions instructed federal agencies to promote cryptocurrency growth domestically and explore the feasibility of amassing a governmental reserve of digital assets.
Fulfilling this pledge, Trump officially created “the Strategic Bitcoin Reserve and the US Digital Asset Stockpile.”
According to him, the reserve would comprise Bitcoin already in federal possession and would not result in any extra financial burden for American taxpayers.
The directive outlined plans to eventually expand the reserve to incorporate other digital currencies such as Ethereum, Ripple, Solana, and Cardano.
This move emphasized the administration’s long-term strategy for embracing a diverse range of blockchain-based assets.
To bolster these efforts, Trump organized a “Digital Asset Summit,” which gathered influential figures from the cryptocurrency industry, including investors and company leaders.
At the event, he disclosed that the federal government owns 200,000 Bitcoins, which now constitute the newly formed reserve.
He also affirmed his backing for Congressional lawmakers seeking to introduce legislation concerning digital assets.
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