US President-elect Donald Trump has extended his congratulations to the Bitcoin community after the asset crossed the $100,000 mark. The news comes just after Bitcoin surged to a historic high of $103,620, taking its market capitalization beyond $2 trillion.

The milestone was celebrated across the crypto ecosystem, and Trump, who has previously made public comments about Bitcoin, offered his well-wishes via a post on Truth Social. His message acknowledged Bitcoin’s achievement, signaling a shift in tone toward cryptocurrency since his presidency. In the post, he celebrated Bitcoin’s rise and expressed continued support for the digital asset, emphasizing his commitment to making the country stronger with the involvement of the cryptocurrency sector.

Bitcoin’s ascent to $100,000 was largely driven by increasing investor confidence, institutional adoption, and positive regulatory shifts, such as Trump’s nomination of Patomak Global CEO Paul Atkins to lead the SEC. The move is seen as a boost for the crypto industry, especially in light of the growing interest from Wall Street and retail investors.

Trump’s Evolving Stance on Bitcoin

Trump’s relationship with Bitcoin has evolved significantly over the years. During his tenure in the White House, Trump publicly referred to Bitcoin as a “scam” and expressed concerns about its potential to undermine the US dollar. He also remarked that the cryptocurrency posed a threat to traditional financial systems.

However, in the years following his presidency, Trump’s views began to change. In his recent campaign, he expressed more openness to Bitcoin and pledged to support its growth should he be re-elected. This shift was further evidenced when Trump made history as the first sitting president to pay for goods using Bitcoin. In a well-publicized move, Trump used Bitcoin to purchase burgers at a PubKey location, marking a symbolic endorsement of the cryptocurrency’s practical utility.

Trump has also promised to help the crypto industry thrive by ensuring that it operates in a supportive regulatory environment. This includes his plan to create a strategic Bitcoin reserve and to advocate for a more crypto-friendly approach from lawmakers. Trump’s efforts have been praised by many in the crypto space, as they signal potential for favorable regulatory policies.

Promises and Progress: Trump’s Influence on the Crypto Market

Trump’s promises to the crypto community have already made a tangible impact. His decision to push for the resignation of SEC chair Gary Gensler, followed by his nomination of a pro-crypto replacement, has been viewed as a sign of his commitment to creating a favorable landscape for cryptocurrency adoption in the US.

One of Trump’s most talked-about promises is the creation of a US Bitcoin stockpile. While details remain scarce, this potential move has spurred optimism within the crypto space. The idea of the US holding a significant amount of Bitcoin could send a powerful signal to the global market, influencing not only investors but also other nations to consider Bitcoin as a reserve asset. If realized, this strategy could accelerate Bitcoin’s integration into the global financial system.

Increasing Demand for Bitcoin Under Trump’s Leadership

Since Trump’s victory, demand for Bitcoin has surged, evidenced by the growing popularity of Bitcoin-related exchange-traded funds (ETFs). The strong momentum in the US Bitcoin ETF market indicates a rising interest in Bitcoin exposure among institutional investors. BlackRock’s IBIT fund, in particular, has seen significant inflows, with $751.6 million added recently.

The rise of Bitcoin-focused investment vehicles is not limited to the US. Globally, there has been an increase in Bitcoin exposure, particularly in the Middle East, with some nations recognizing the potential benefits of holding Bitcoin as part of their financial reserves. Galaxy Digital CEO Michael Novogratz has pointed out that this growing interest from international markets could lead to more capital flowing into Bitcoin, further boosting its price and adoption.

Bitcoin’s Long-Term Outlook: A New Era Under Trump

Market analysts are optimistic about Bitcoin’s long-term outlook under President-elect Trump’s leadership. Analysts from Bernstein and Standard Chartered have raised their projections, with Bitcoin expected to reach $200,000 by 2025. The optimism stems from the growing institutional interest and favorable regulatory shifts. As Bitcoin’s price continues to rise and its adoption spreads globally, it is clear that Bitcoin has firmly established itself as a key player in the future of finance.

As of now, Bitcoin is trading at $97,846, experiencing a 4% drop in the past 24 hours. However, the ongoing momentum and optimism around Bitcoin’s future, bolstered by Trump’s policies, suggest that this pullback may be temporary. Investors and analysts alike are keeping an eye on what comes next for Bitcoin under the new administration.