U.S. President Donald Trump attributed bitcoin's record highs to his commitment to making "America the crypto capital."

"Bitcoin set multiple all-time record highs because everyone knows that I'm committed to making America the crypto capital," Trump said at the Future Investment Initiative Institute conference on Wednesday in Miami. 

Bitcoin was hovering at close to $96,700 as of Wednesday evening after reaching an all-time high of over $108,000 earlier this year, according to The Block's price page. 

"We want to stay at the forefront of everything, and one of them is crypto, and Miami seems to be the center of the action, come to think of it, and maybe it'll stay there," Trump added. 

Before being elected president last year, Trump said he planned to make the U.S. "the crypto capital of the planet." Before and since taking office, Trump has made several moves to show support for digital assets including designating crypto-friendly former regulator Paul Atkins to lead the U.S. Securities and Exchange Commission, one of the key agencies that has had a significant role in trying to rein in the industry. 

Trump also launched TRUMP memecoin ahead of his inauguration with his wife, Melania Trump, following suit with one of her own, both reached billions of dollars in market cap. 

This comes as Washington is expected to have the most pro-crypto Congress yet, and pro-crypto lawmakers, such as Senate Banking Committee Chair Tim Scott and House Financial Services Committee Chair French Hill, are leading key committees holding the purse strings for bills to regulate the industry. 

Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.

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