Following Bitcoin’s surge past $100,000 after his election victory, former President Donald Trump reportedly hopes to see the cryptocurrency reach $150,000 during his upcoming term. According to an Axios report citing an anonymous transition source, Trump is “going to be very focused on the price of Bitcoin,” viewing it as “another stock market” to gauge the success of his economic policies.
This echoes Trump’s previous practice of highlighting stock market performance as an indicator of his administration’s economic management. Since his election in November, Bitcoin’s price has rallied from around $68,000 to over $103,000. Last week, Trump celebrated Bitcoin surpassing the $100,000 mark on Truth Social, seemingly taking some credit for the price increase.
The Axios report also suggests that Trump intends to “promote crypto-friendly regulations,” including potentially nominating Paul Atkins to lead the Securities and Exchange Commission (SEC). Atkins, founder of the consulting firm Patomak Global Partners, has previously worked with cryptocurrency exchanges and DeFi platforms.
While Bitcoin’s price was around $95,205 at the time of the report, the cryptocurrency’s recent surge and Trump’s reported focus on its price raise questions about the potential influence of presidential policy on the crypto market.
