Donald Trump promised more favorable legislation for crypto, stating it's an honor to be called the first crypto President.
Bitcoin's price saw a minor recovery after Trump's statement, rising from under $107,000 to almost $108,000.
Trump claims his administration ended Biden's war on crypto on Day 1 by making regulatory changes.
Trump replaced former SEC Chair Gary Gensler with Paul Atkins, leading to dropped lawsuits against crypto companies like Kraken, Binance, and Coinbase.
The administration aimed to allow American innovators to lead the technology world by removing regulatory barriers.
Positive developments cited included the national Bitcoin reserve, digital asset stockpile, and upcoming stablecoin bill called GENIUS.
Trump emphasized working on clear market frameworks to help the US dominate the future of crypto and Bitcoin.
Bitcoin's price surged following Trump's statement, but remains around 4% below its all-time high from May 22.