30s Summary

Since the Trump administration, Bitcoin’s value has increased significantly, leading many to speculate that it may soon reach $100,000 per coin. This has been reflected in a social media trend where enthusiasts have ‘laser eyes’ on their profile pictures. One prominent example is El Salvador’s President Nayib Bukele, who made Bitcoin legal tender. In the US, despite stricter regulatory proposals, figures like Republican Senator Cynthia Lummis and Miami’s Mayor Francis Suarez have supported Bitcoin’s adoption. Similarly, in Mexico, Senator Indira Kempis and former Paraguayan Carlos Rejala advocate for Bitcoin’s potential benefits, and in Tonga, Lord Fusitu’a also promotes its adoption.

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Since Trump stepped into the White House, the crypto market has skyrocketed, reaching new highs. Bitcoin is just a hop, skip and a jump away from the coveted $100,000 mark.

Folks who jumped on the “laser eyes” bandwagon, indicating their belief in Bitcoin hitting six figures, are close to enjoying their “told you so” moment. For the unaware, the Bitcoin laser eyes trend involves enthusiasts slapping on laser eyes to their profile pictures, symbolizing their bold confidence that Bitcoin will hit $100,000.

Although Bitcoin still hasn’t reached that goal, hovering around the $70,000 mark, those daring (and patient) enough might soon cash in on their optimism.

Meet El Salvador’s President Nayib Bukele who was all over the news on Sept. 7, 2021, when his country made Bitcoin an official currency. Being a big Bitcoin player himself, it’s no surprise that he jumped on the laser eyes trend.

Bukele’s government not only made Bitcoin legal tender but also insisted on businesses accepting it as payment just like the US dollar. Despite initial hiccups, including technical glitches with the government’s Bitcoin wallet, Chivo, Bukele’s “I told you so” moments kept piling up. For instance, El Salvador managed to dodge an expected default and pay off $800 million of sovereign debt on Jan. 25, 2023.

Over in the US, Joe Biden isn’t a Bitcoin buff, but managed to make himself a Bitcoin ambassador by accident when he posted a laser-eyed profile picture on his social media profiles. Though Biden’s picture carried a different meaning (it was a nod to a meme), crypto enthusiasts initially thought Biden was showing his love for Bitcoin.

While Biden’s administration has proposed stricter regulations on crypto exchanges and reported tax from crypto transactions, another US political figure has been far more bullish in her support for Bitcoin. Republican Senator Cynthia Lummis, also known as the “Crypto Queen” in Washington, has actively sponsored legislation for a unique regulatory framework for Bitcoin and other digital assets.

Miami’s Bitcoin-friendly mayor, Francis Suarez, is another notable figure pushing for Bitcoin adoption. Under his leadership, the city is exploring the integration of Bitcoin into its financial infrastructure and even looking at letting residents pay for city services with the cryptocurrency.

Down south, Mexico’s Senator Indira Kempis is advocating for national adoption of cryptocurrencies and legalizing Bitcoin in Mexico. Also in Latin America, former Paraguayan Deputy Carlos Rejala is leading the charge in promoting Bitcoin and its potential for sustainable mining given the country’s abundance of hydroelectric power.

Outside of the Americas, Lord Fusitu’a, a Tongan noble, is known for his efforts to promote Bitcoin adoption in Tonga, but his proposal to make Bitcoin legal tender didn’t pass. Tech tycoon Elon Musk, while not strictly a politician, has had a contentious influence over cryptocurrency prices, particularly Bitcoin and Dogecoin. Despite not being part of the government, he has seemingly had Trump’s ear since his re-election and could continue to steer policy from the sidelines.