Trump Wants Bitcoin to Hit $150,000

Axios Sources Claim Trump Is Interested in Bitcoin Like the Stock Market

US President Donald Trump is looking at $150,000 as the next target for Bitcoin (BTC) early in his presidency, according to Axios.

Axios: Trump "is going to be very focused on the price of Bitcoin," a top transition source told us. "It's another stock market for him," the source explained, adding that Trump would love for Bitcoin to hit $150,000 early in his presidency. Part of Trump's charge to Sacks as…

— Wu Blockchain (@WuBlockchain) December 10, 2024

Axios' anonymous source said that Trump "will pay special attention to the price of Bitcoin", as in the eyes of the new President, the cryptocurrency market is no different from the stock market.

During his previous term, Trump often used the growth of the stock market as evidence of the health of the US economy, thereby showing that he was doing a good job of steering the US.

Bitcoin previously conquered the historic milestone of $100,000 exactly 1 month after Trump won the 2024 presidential election.

As reported, President Trump posted a congratulatory message on the price of Bitcoin reaching $100,000 on the social network Truth Social he founded last week. This is also the first time a US President has celebrated Bitcoin's ATH price, and said that he "played a significant role" in helping BTC achieve that achievement.

Over the past month, Mr. Trump has made many moves to fulfill his commitment to "revive the cryptocurrency industry" during his election campaign, including:

- Meeting with CEOs of major crypto companies and expressing his intention to establish a crypto advisory council with representatives of these companies.

- Replacing SEC Chairman Gary Gensler with former SEC Commissioner Paul Atkins, who runs a law firm with crypto companies as clients.

- Appointing David Sacks, a hedge fund manager with a radical view on crypto, as "White House Crypto and AI Policy Advisor", a special position created by Mr. Trump himself.

- Announcing a list of cabinet candidates with pro-crypto views, including Scott Bessent as Treasury Secretary; Howard Lutnick as Commerce Secretary; Robert F. Kennedy Jr. as Secretary of Health and Human Services; and Elon Musk as Secretary of Government Efficiency (DOGE).

- Expressed his intention to give more regulatory authority to the US Commodity Futures Trading Commission (CFTC), implying that cryptocurrencies are not securities and therefore subject to SEC oversight.

- Opened the possibility of establishing a strategic Bitcoin reserve for the US, using the 198,109 BTC ($19.5 billion) currently seized by the Department of Justice as evidence from criminal activities. Mr. Trump previously made statements affirming that the US should keep these Bitcoins because they can help the US reduce the national debt ratio.