Trump pledges to make US crypto capital

US President Donald Trump

US President Donald Trump claimed that bitcoin's rise to record highs, including surpassing the $108,000 mark earlier this year, is due to his commitment to making the United States the cryptocurrency capital.

"Bitcoin set multiple all-time record highs because everyone knows that I’m committed to making America a crypto capital,” the president said at the FII Priority Summit in Miami.

He further emphasized his plans to stop war against bitcoin through signing executive orders to keep the US at the forefront of artificial intelligence and to end war on bitcoin and crypto.

Trump’s promise came during his presidency campaign and he has showed continuous support for digital assets by nominating a supporter of the encrypted currencies, Paul Atkins, to chair the Securities & Exchange Commission (SEC).

The encrypted currency market in general increased strongly after the election of President Trump. Bitcoin hit record levels, but later fell to trade at below $97,000, specifically, at $96,918.75, at 09:35 am Makkah time.