The cryptocurrency community is strongly backing Senator Bill Hagerty (R-Tenn.) as President-elect Donald Trump weighs his choice for Treasury Secretary. Known for his vocal support of digital assets, Hagerty has earned the moniker “Bitcoin Bill” and cultivated a dedicated following among crypto advocates. As a member of the Senate Banking Committee, he has consistently championed Bitcoin and blockchain technology.
“Bitcoin must thrive in America, and it will under President Trump,” Hagerty said in a July 2024 interview with Bloomberg.
His steadfast support for cryptocurrency has made him a frontrunner in the eyes of the crypto community, which has rallied on social media to push for his appointment. Hashtags like #BitcoinBill and #HagertyForTreasury are trending, and memes comparing Hagerty to the Batman villain Bane from The Dark Knight Rises suggest he could “liberate” the financial system from its traditional constraints. Other memes humorously liken him to Batman, including a popular tweet by @twobitidiot, which shows Hagerty’s face over Batman’s bat symbol, captioned with a quote from The Dark Knight: “He’s not our hero. He’s a silent guardian, a watchful protector. A Dark Knight.”
The meme fervor isn’t the only driving force behind the movement. Hagerty has supported crypto-friendly legislation like the Clarity for Payment Stablecoins Act, introduced by Senator Cynthia Lummis (R-Wyo.), which seeks to establish clear regulatory guidelines for stablecoin issuers without stifling innovation.
Additionally, Hagerty has proposed ideas like creating a national Bitcoin stockpile and opposing the introduction of a Central Bank Digital Currency (CBDC), policies that resonate deeply with Bitcoin supporters who view cryptocurrency as a tool for financial independence.
“Senator Hagerty and his team are deeply knowledgeable about crypto, payments, and technology, and he would bring a pro-innovation mindset,” said Robert Leshner, founder of Superstate, an asset management firm. Another user, @MH3NFT, added, “This government is doing more for crypto than the previous one.”
The push for Hagerty is also fueled by the past regulatory landscape for cryptocurrency in the U.S. During his earlier presidency, Trump criticized Bitcoin, calling it “based on thin air” in a 2019 tweet and warning about the risks of unregulated crypto. The Biden administration, under SEC Chair Gary Gensler, has focused on tightening crypto regulations, ramping up enforcement actions, and acknowledging both the risks and potential of blockchain technology.
However, Trump’s stance appears to have shifted. During his 2024 campaign, he spoke at a Bitcoin conference and promoted his own cryptocurrency exchange, signaling a more crypto-friendly outlook.
On prediction platform Polymarket, “Who will Trump pick for Treasury Secretary?” is a trending topic with over $3 million in trading volume. However, Hagerty is currently ranked fourth among potential candidates, receiving only 11% of support.
Sources close to Trump suggest that Hagerty is under serious consideration. The former president reportedly enjoyed spending time with Hagerty and Elon Musk in South Texas during a SpaceX rocket launch this week, and Hagerty is said to have stayed at Mar-a-Lago.
