Donald Trump has said: We will be doing something great with crypto

President-elect Donald Trump announced plans to position the United States as a global leader in cryptocurrency during his upcoming term.

“We’re going to do something great with crypto because we don’t want China, or anyone else, to lead in this space. Others are embracing it, and we want to be ahead,” Trump told CNBC’s Jim Cramer on Thursday at the New York Stock Exchange, in response to a question about the possibility of establishing a strategic bitcoin reserve.

Recognition from Time Magazine

Trump’s comments came on the same day he was honored as Time magazine’s Person of the Year for 2024. Sam Jacobs, the magazine’s editor-in-chief, made the announcement on NBC’s Today show, highlighting Trump’s profound influence over the past year.

“This is someone who has redefined the American presidency and reordered the nation’s political landscape,” Jacobs said, emphasizing Trump’s historic political comeback. Trump previously received the honor in 2016 following his first presidential victory.

A Crypto Pivot

Trump’s supportive stance on cryptocurrency marks a significant shift from the current administration’s strained relationship with the industry. His proposal for a national strategic bitcoin reserve or stockpile is part of his broader campaign promises aimed at fostering growth in the digital currency sector—a move that resonated with the crypto community during his reelection campaign.

A Historic Day

Trump was at the New York Stock Exchange to ring the opening bell in celebration of his Time magazine recognition.

Meanwhile, Bitcoin remained steady on Thursday, trading just above the $100,000 milestone it surpassed last week. The digital asset’s record-breaking rise underscores the increasing importance of cryptocurrency on the global stage—a sector Trump aims to prioritize as part of his economic strategy.