Donald Trump's new administration is forming a council to develop crypto policies and a strategic Bitcoin reserve.
Crypto Leaders in Discussions with Trump
Since winning the election, Trump has held private meetings with major crypto executives at his Mar-a-Lago residence. Among the attendees was Crypto.com CEO Kris Marszalek, who reportedly discussed industry-friendly policies with Trump. Ripple CEO Brad Garlinghouse and Circle CEO Jeremy Allaire have also engaged in high-level discussions, with Circle notably contributing $1 million in USDC to Trump's inaugural committee. Michael Saylor, CEO of MicroStrategy, has engaged with Eric Trump about Bitcoin's role in U.S. economic strategy.
Bo Hines to Lead the Presidential Crypto Advisory Council
Bo Hines, a former congressional candidate, has been appointed Executive Director of the Presidential Council of Advisors on Crypto Assets. A Yale graduate and Wake Forest Law alumnus, Hines will report directly to David Sacks, working to advance innovation and institutional adoption of crypto assets.
Strategic Bitcoin Reserve: A New Era for U.S. Digital Assets?
One of the council’s primary objectives is to implement Trump’s plan for a U.S. strategic Bitcoin reserve. Activist Dennis Porter suggested that this initiative could be launched within Trump’s first 100 days in office, marking a pivotal shift in the nation’s monetary policy. However, the finalization of this reserve depends on the confirmation of Scott Bessent as Treasury Secretary, who would oversee the crypto asset treasury. An executive order from Trump could be the final step in securing the reserve’s legitimacy and operational framework.
Discussions between politicians and crypto leaders highlight a potential shift in the crypto industry and the possible formation of a Bitcoin reserve in the U.S. under the new administration.
