The cryptocurrency community is rallying behind Sen. Bill Hagerty (R-Tenn.) as President-elect Donald Trump deliberates his pick for Treasury Secretary. An outspoken advocate for digital assets, Hagerty has earned the nickname “Bitcoin Bill” and a loyal following among crypto enthusiasts.
A member of the Senate Banking Committee, Hagerty has consistently positioned himself as a defender of Bitcoin and blockchain technology.
“Bitcoin has to thrive here in America, and it would under Donald Trump,” he said in a July 2024 interview with Bloomberg.
The unwavering support makes him a favorite within the crypto community, which mobilized across social media platforms to campaign for his appointment. Hashtags like #BitcoinBill and #HagertyForTreasury are trending, while memes liken Hagerty to the Batman villain Bane in The Dark Knight Rises suggesting he could "liberate" the financial system from traditional constraints.
Others, conflictingly, compared him to Batman.
A popular tweet by user @twobitidiot features Hagerty’s face superimposed on Batman’s bat symbol. It's captioned, “He’s not our hero. He’s a silent guardian, a watchful protector. A Dark Knight,” a quote from Christopher Nolan’s other film The Dark Knight.
But it’s not just memes driving the hype. Hagerty has backed pro-crypto legislation, including the Clarity for Payment Stablecoins Act, introduced by Sen. Cynthia Lummis (R-Wy.). The bill aims to provide clear regulatory guidelines for stablecoin issuers while avoiding overreach.
Hagerty also floated ideas like creating a national Bitcoin stockpile and opposing a Central Bank Digital Currency (CBDC)—policies that resonate with Bitcoin advocates who view the cryptocurrency as a path to financial independence.
The stakes feel high for this corner of the internet.
“Senator Hagerty and his staff are *deeply* knowledgeable about crypto, payments, and technology, and he would bring a pro-innovation mindset,” reads a tweet by Robert Leshner, founder of asset management firm Superstate. Another user, @MH3NFT, said in a reply, “This government is doing more for crypto than the previous one.”
The urgency is compounded by the history of crypto regulation in the U.S.
During his previous tenure in the White House, Trump was openly critical of Bitcoin, calling it "based on thin air" in a 2019 tweet. “Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity,” Trump said.
The Biden administration, under the leadership of SEC Chair Gary Gensler, focused on stricter crypto regulations, ramping up enforcement and emphasizing risks like fraud and market instability, while acknowledging blockchain's innovation.
It also charged some of the biggest players in the crypto market with fraud.
Trump, though, flipped during his 2024 campaign, speaking at a Bitcoin conference and hyping his own crypto exchange.
On prediction platform Polymarket, “Who will Trump pick for Treasury Secretary?” is currently trending, with over $3 million in trading volume. But Hagerty ranks fourth among all the candidates, with just 11% support.
Trump is reportedly currently interviewing candidates, including former Federal Reserve Governor Kevin Warsh and Apollo Global Management CEO Marc Rowan, for the position.
A recent report by Axios suggests that Trump is seriously considering Hagerty, as sources said that Trump enjoyed spending time with Hagerty and Elon Musk in South Texas Tuesday as SpaceX launched a Starship rocket.
Hagerty also reportedly stayed at Mar-a-Lago this week.
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