Donald Trumps heating Bitcoin by praising former Bakkt CEO

Donald Trump may be a Bitcoin skeptic but former Bakkt CEO Kelly Loeffler could change that.

U.S. President Donald Trump had a shout-out to former Bakkt CEO Kelly Loeffler, who now represents Georgia in the Senate. During the signing of the USMCA trade deal, the POTUS praised for Loeffler along with her Republican colleagues.

The U.S. President said, “Congratulations, Kelly. They really like you a lot. That’s what the word is.”

The appointment of Kelly Loeffler was seen as a big step for the cryptocurrency industry in the US. Previously, Kelly served as the CEO of ICE-backed crypto trading platform Bakkt. The platform became one of the biggest stories of the year in crypto after finally releasing its physically-settled Bitcoin (BTC) futures.

According to Fundstrat’s Tom Lee, the White House’s impact was the main reason why Bitcoin’s rally hung back in the second half of 2019. Back in July, Trump tweeted that he did not support Bitcoin and Libra. Both Bitcoin and Libra also endured intense scrutiny US lawmakers during several congressional hearings.

Kelly Loeffler, who was considered to be one of the most influential figures in the crypto community, has a great opportunity to turn things around. Still, there is a chance that another Trump ally Doug Collins might unseat Loeffler this November. If Loeffler manages to keep her seat, she will remain a Georgian senator at least until 2022.

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