The cryptocurrency world woke up to monumental news on Thursday as Bitcoin breached the $100,000 milestone, a momentous leap in its journey from obscurity to financial stardom. On his Truth Social platform, former U.S. President Donald Trump proudly took credit, declaring, “CONGRATULATIONS BITCOINERS!!! $100,000!!! YOU’RE WELCOME!!! Together, we will Make America Great Again!”

Trump’s vocal embrace of cryptocurrency marks a remarkable shift from his earlier skepticism, where he dismissed Bitcoin as a “scam.” The recent price surge comes hot on the heels of Trump’s latest political moves, including his appointment of Paul Atkins as the next Securities and Exchange Commission (SEC) chairman. Atkins, a known advocate for digital assets, has a history of promoting pro-crypto policies, making this selection a clear signal of Trump’s evolving stance on the crypto industry.

Atkins, who previously chaired The Digital Chamber’s Token Alliance, is expected to steer the SEC towards a friendlier regulatory environment for cryptocurrencies. Trump highlighted this by stating, “Digital assets & other innovations are crucial to Making America Greater than Ever Before.”

Trump has made sweeping promises to cement the United States as a global crypto leader. His ambitious plans include establishing a strategic national Bitcoin reserve, ensuring all Bitcoin is mined domestically, and creating a crypto advisory council. By presenting himself as the “crypto candidate” and “crypto president,” Trump has aligned his political brand with the rapidly growing crypto economy, appealing to tech leaders and Bitcoin enthusiasts alike.

Bitcoin’s rise to $100,000 represents a staggering achievement for the cryptocurrency, which traded at just $1 in 2011. As of Thursday morning, Bitcoin’s value had climbed to $103,025, with an overnight high of $103,679. This surge underscores its meteoric growth; an investment of $1,000 as recently as January 2024 would now yield a 120% return. A similar investment made during the onset of the Covid-19 pandemic in 2020 would have seen an astonishing 1,220% growth.

While Trump’s declaration of responsibility may spark debate, it’s undeniable that his pivot towards pro-crypto policies and leadership appointments signals a pivotal moment for the industry. Whether Bitcoin’s rise can be attributed to Trump’s influence or broader market dynamics, the milestone cements cryptocurrency’s place in the global financial system.