Trump Reaffirms Plan to Make U.S. the ‘Crypto Capital’ Amid Bitcoin Surge
U.S. President Donald Trump has doubled down on his commitment to establishing America as the global hub for cryptocurrency, linking Bitcoin's recent record highs to his administration’s pro-crypto policies.
Speaking at the Future Investment Initiative Institute conference in Miami on Wednesday, Trump highlighted his vision:
"Bitcoin set multiple all-time record highs because everyone knows I'm committed to making America the crypto capital."
Bitcoin, which recently soared past $108,000, was trading near $97,000 on Wednesday evening, according to The Block's price tracker.
A Vision for U.S. Crypto Leadership
Trump emphasized the strategic importance of cryptocurrency to America’s financial and technological leadership:
"We want to stay at the forefront of everything, and one of them is crypto. Miami seems to be the center of the action, and maybe it'll stay that way."
This stance aligns with Trump’s pre-election promises, where he pledged to make the U.S. the “crypto capital of the planet.” Since taking office, he has taken steps to back the industry, including appointing crypto-friendly former regulator Paul Atkins to lead the U.S. Securities and Exchange Commission (SEC).
Executive Orders and Policy Shifts
Trump highlighted his January 2025 executive order, “Strengthening American Leadership in Digital Financial Technology,” aimed at creating a federal regulatory framework for crypto. The order also banned the use of a central bank digital currency (CBDC), aligning with the Republican stance against government-controlled digital money.
The executive working group tasked with implementing this policy includes key officials such as the Treasury Secretary, Commerce Secretary, and chairs of major financial regulatory agencies, including the SEC.
Trump also criticized the SEC's stance on crypto under former chair Gary Gensler, stating:
"We ended that war totally. They were very hostile toward crypto until the very end. Now, the SEC is finally being fair."
Crypto Ties and Market Impact
Trump’s personal involvement in the crypto space is well-documented. He and Melania Trump both launched memecoins ahead of his 2024 inauguration, with the TRUMP token reaching a billion-dollar market cap.
The administration's pro-crypto approach coincides with a broader shift in Washington, with the most pro-crypto Congress ever now in session. Senate Banking Committee Chair Tim Scott and House Financial Services Committee Chair French Hill are leading efforts to craft industry-friendly regulations.