US President Donald Trump has listed some of his achievements one month into office, including ending the former administration’s war on crypto.
Donald Trump officially assumed office as the 47th US president on January 20. A month later, he claims to have achieved burgeoning feats on the artificial intelligence and cryptocurrency fronts.
At the FII Priority Summit in Miami yesterday, Trump claimed to have accelerated innovations in the United States, including cryptocurrency. He highlighted that his pro-crypto stance spurred Bitcoin to multiple all-time highs.
“Bitcoin has set multiple all-time record highs because everyone knows that I’m committed to making America the crypto capital,” President Trump said.
President Donald Trump Ends Joe Biden’s Crypto Tyranny
Meanwhile, Trump also noted that he has signed executive orders to end Joe Biden’s war on Bitcoin and cryptocurrencies. He highlighted the past administration’s hostility toward the sector amid several indictments brought against it.
The pro-Bitcoin president argued that the US Securities and Exchange Commission (SEC) was politically motivated in its dealings, suing cryptocurrency-related entities without any just course. Trump revealed that the SEC dropped some of those indictments prior to the election, but the administration had already lost the sector’s support.
Nonetheless, the 47th US president stated that he supported cryptocurrency not for political reasons but because he wanted to be at the forefront of every industry.
Trump’s Pro-Crypto Stance: A Win for Crypto
In truth, the president’s incessant flirtation with the industry has brought notable changes. In addition to catalyzing Bitcoin’s rally from around $70,000 to its current all-time high of $109,312, Trump has made regulatory changes to allow the sector to thrive.
With Gary Gensler and other anti-crypto US leaders resigning, Trump has appointed new executives with a friendly disposition towards the technological innovation. This stance reflects in his selection of Paul Atkins as the new SEC chair and David Sacks as the crypto Czar.
Furthermore, the push to create a national Bitcoin reserve is still underway. Having signed executive orders aiming to make America the crypto capital of the world, the possibility of a Bitcoin stockpile remains high.
Meanwhile, US states are already taking the initiative to create a state-level reserve of the pioneering crypto asset. Today, over 16 states have proposed the idea, which could see $23 billion worth of Bitcoin bought if they all pass.
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