Bitcoin Gains Support from Trump Administration and Wall Street

The Trump administration has shown support for Bitcoin since January 2025 by creating a Strategic Bitcoin Reserve and deeming it 'strategic' for the nation.

This is in addition to the White House's backing, as evidenced by Donald Trump, Jr. and Eric Trump launching American Bitcoin Corp.(NASDAQ: ABTC) in March 2025 and key Trump allies launching Bitcoin treasury companies of their own following the 2024 election.

Wall Street firms continue to promote Bitcoin as an investable asset class, helping it to go mainstream with the approval of new products such as Bitcoin perpetual futures by the Commodity Futures Trading Commission (CFTC) in May and large institutional investors ramping up their allocation to Bitcoin.

Bitcoin's status as a commodity rather than a security has removed much of its regulatory risk, unlike other major cryptocurrencies like Ethereum(CRYPTO: ETH), XRP(CRYPTO: XRP), and Hyperliquid(CRYPTO: HYPE) which continue to face significant regulatory issues.