Trump celebrates Bitcoin’s $100k milestone in Truth Social post

New President Donald Trump celebrated Bitcoin’s historic price rise as the cryptocurrency reached six figures, sparking optimism among investors.

Bitcoin (BTC) reached an all-time high of $100,000 on December 4, marking a historic milestone for the world’s largest cryptocurrency.

Former President Donald Trump wrote on Truth Social to commemorate the event: “CONGRATULATIONS BITCOINERS!!! $100,000!!! YOU’RE WELCOME!!! Together We Will Make America Great Again!”

The price increase represents a nearly 7% increase in value, pushing Bitcoin’s market cap to $2 trillion. Bitcoin currently ranks 18th among the most valuable assets, according to Asset Market Cap, and is more valuable than the Canadian, Taiwanese and Australian dollars.

Optimism about the new administration’s positive regulatory environment has boosted investor confidence.

Bitcoin’s trading volume increased by 33% to $91 billion, and sentiment indicators showed an 80% bullish outlook.

CONGRATULATIONS Bitcoiners!!! $100,000!!! YOU’RE WELCOME!!! Together We Will Make America Great Again!

Donald Trump Truth Social 07:55 EST 12/05/24 @realdonaldtrump

— Donald J. Trump Posts from His Truth Social (@TrumpDailyPosts) December 5, 2024

US spot Bitcoin ETFs also saw inflows for the fifth consecutive day on December 4. US spot Bitcoin ETFs also saw activity, recording a fifth consecutive day of inflows on December 4.

Elon Musk, a member of Trump’s leadership team, commented to X about El Salvador President Nayib Bukele’s Bitcoin portfolio, expressing his admiration for Bitcoin reaching this milestone.

President Bukele has been a strong advocate for Bitcoin, embracing it as legal tender, promoting financial inclusion, and positioning the country as a global hub for cryptocurrency innovation. According to Bukele’s post on X, the country’s crypto assets are up at least 117%.

Trump’s adoption of crypto.

During the most recent campaign, Trump did not shy away from voicing pro-crypto sentiment. Historically, Trump has had a mixed stance on cryptocurrency. In 2019, he expressed skepticism about Bitcoin, calling it “extremely volatile.”

However, during the last election cycle, Trump announced that he would embrace crypto in his next term. “Cryptocurrency is moving out of the USA due to hostility towards it. I don’t want this. “If we’re going to embrace this, we’re going to have to let them be here,” he said.

Trump’s victory in November led to a significant rise in cryptocurrency, resulting in a surge in Bitcoin and other cryptocurrencies.