Trump's Pro-Crypto Stance Boosts Bitcoin Price

Donald Trump, who has referred to himself as the first crypto President, promised a more favorable legislation to solidify the US's dominance in the crypto market. Following his online statement, Bitcoin's price experienced a slight recovery, rising from under $107,000 to nearly $108,000. Trump's administration has already ended the previous administration's war on crypto, replacing former SEC Chair, Gary Gensler, with Paul Atkins and dropping lawsuits against multiple crypto companies.

Trump highlighted the significant progress in the industry, such as the national Bitcoin reserve, the digital asset stockpile, and the GENIUS stablecoin bill. He also pledged to continue creating simple market frameworks to help the US lead in the future of Bitcoin and crypto. Despite the price jump, Bitcoin remains about 4% below its all-time high, recorded on May 22.