Donald Trump took to his social media platform, Truth Social, to congratulate Bitcoin holders on the cryptocurrency’s spectacular rally. However, his message came with a touch of self-promotion. The eccentric billionaire claimed that Bitcoin's significant jump to $100,000 was due to his influence. Could Trump really be taking credit in this situation?

"CONGRATULATIONS BITCOINERS!!! $100,000!!! YOU’RE WELCOME!!! Together, we will Make America Great Again!" Trump wrote in his post.

As a reminder, Bitcoin recently hit an all-time high in early December, surpassing the $100,000 mark and reaching as high as $103,300 before pulling back to $101,100. Financial analysts believe that Bitcoin could extend gains to $120,000 in the not-too-distant future as it enters a new phase and is increasingly seen as a safe-haven asset by market participants.

Against this backdrop, Trump has every reason to take credit for Bitcoin’s rapid rise. In the month following his victory in the US presidential election, the leading cryptocurrency added more than 30%. In addition, Bitcoin has consistently reached new highs. Experts anticipate a favorable approach to Bitcoin from the US Securities and Exchange Commission (SEC) under the new administration, believing that the crypto space could thrive under Trump's leadership.