Trump Says He Pumped Bitcoin To New Highs, Hails Growth In 'Crypto City' Miami

U.S. President Donald Trump on Wednesday praised himself for pumping Bitcoin and also hailed the cryptocurrency industry in Miami, Florida, which he said was where most of the action was happening in terms of the country's crypto momentum.

The president was attending the Future Investment Initiative conference Wednesday in Miami when he reaffirmed his commitment to making the U.S. the world's leader in crypto.

Bitcoin is Up Because of Me: Trump

Before speaking about the broader crypto space, Trump mentioned Bitcoin, the world's first and largest cryptocurrency by market cap.

"Bitcoin set multiple all-time record highs because everyone knows that I'm committed to making America the crypto capital," he said.

Trump promised Bitcoiners during last year's Bitcoin 2024 conference in Nashville that he will ensure the U.S. becomes the world's crypto hub if he wins the presidency.

Drawn by his promise to "make crypto great again," crypto voters showed up at polling stations and helped lead the Republican frontrunner to victory.

It appears BTC was feeling the moment of having been given a special mention at the conference by the president as the crypto asset surged above $97,000 late Wednesday night from a low of around $95,000 earlier in the day.

Following Trump's presidential win, Bitcoin hit a new all-time high above $108,000 as crypto users celebrated what the industry described as the United States' first "pro-crypto president."

Trump Says Miami is the 'Center of Crypto Activity

The business mogul-turned-president went on to note how his government seeks to keep his campaign promises to crypto voters.

"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," he said.

Miami has been dubbed "crypto city" as it has, in recent years, been welcoming crypto businesses. Crypto firms appear attracted to the city due to its low taxes.

Miami Mayor Francis Suarez is also known for his embrace of cryptocurrency and is one of the early supporters of the emerging technology.

It remains to be seen whether Miami will keep its throne as the "center" of crypto momentum or other cities across the country will also move toward more crypto-friendly policies and activities.

Trump Hails the 'End' of the War on Crypto

Aside from specifically mentioning Miami in his speech, Trump also said the reason why he signed tech and crypto-focused executive orders was "to end Joe Biden's war on Bitcoin and crypto."

"We ended that war totally. That war is over. They [the previous administration] were very hostile toward them until the very end just because there's so many people on Bitcoin and crypto," he added.

He went on to note that "just before the end" of the so-called war on crypto, the Biden administration started to change its tone and "were being very nice."

But he reminded the industry how "so many people were being indicted for no reason," referring to the multiple lawsuits filed against some prominent crypto firms under the Biden government.

While crypto has been down in recent weeks amid geopolitical woes and the Trump trade war, but hopes remain high that the Trump presidency will bring in much-needed clarity on regulations, which could then build more trust with users and ultimately have positive effects on the market.