President Donald Trump has claimed his commitment to crypto is responsible for the recent historic highs for Bitcoin.
The U.S. leader was typically bullish in front of an audience at the Future Initiative Institute in Miami on Wednesday (Feb. 20), when he reinforced his aspirations for digital currency.
“Bitcoin set multiple all-time record highs because everyone knows that I’m committed to making America the crypto capital,” he said.
“We want to stay at the forefront of everything, and one of them is crypto, and Miami seems to be the center of the action, come to think of it, and maybe it’ll stay there,” Trump added.
Last month, Bitcoin reached an unprecedented high of over $108,000 before a moderate drop. At the close of business yesterday, it was valued at around $96,700.
On the campaign trail to return to the White House, the incumbent president launched a charm offensive on the crypto sector, garnering financial backing and crucial support along the way.
Yes, he had changed tack from his previous outlook on digital currency but this was an opportunity Trump took advantage of.
He and his inner circle vowed to make America the crypto capital of the world, while seeking to bring clarity and consensus on crypto regulation.
#VIDEO: U.S. President Donald Trump deliverers a speech at the Priority Summit, part of the Saudi Future Investment Initiative (FII) in Miami, expressing his appreciation for the opportunity. #FIIPRIORITY pic.twitter.com/Fke0lRLmub
— Saudi Gazette (@Saudi_Gazette) February 19, 2025
Federal Bitcoin stockpile proposal
One of his moves was to nominate Paul Atkins as Chair of the U.S. Securities and Exchange Commission (SEC), a crypto-friendly figure who contrasts with his predecessor.
Trump effectively removed Gary Gensler from the position last month, after his leadership was typically punitive on crypto, which he treated mostly as securities.
Under Gensler, the SEC brought many charges against crypto firms, with a focus on unlawful registration.
“We ended that war totally,” said the President on Wednesday.
“That war is over. They were very hostile toward them until the very end because there’s so many people on Bitcoin and crypto that just before the end, the SEC came out, and they were being very nice,” Trump added.
Since his inauguration, Trump has issued an executive order to investigate the creation of a federal stockpile of Bitcoin, while he and his wife Melania, have launched respective meme coin offerings, both reaching billions in market cap.
Image credit: Grok/X
