President-elect Donald Trump plans to make cryptocurrency a “National Priority” policy upon his inauguration, according to a Bloomberg report. The incoming administration also plans on creating a crypto advisory council, giving industry insiders a voice within his administration.
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US President-elect Trump to designate cryptocurrency as a “national priority,” Bloomberg reports.
— Watcher.Guru (@WatcherGuru) January 16, 2025
The incoming president has been a strong supporter of the crypto industry since his campaign, and experts in the industry expect that to continue upon his inauguration. Many experts expect Trump to issue executive orders on the first day of his presidency that may address issues relating to cryptocurrency. Among these issues include de-banking and the repeal of a controversial crypto accounting policy requiring banks holding digital assets to count them as liabilities on the bank’s own balance sheet.
Donald Trump Further Prioritizes Cryptocurrency Sector
Trump’s plan to make the crypto sector a “national priority” is the most explicit sign yet that he sees the industry as crucial to the US economy. Still under discussion for inclusion in the executive order is a directive for all government agencies to review policies about digital assets and possibly pause any litigation involving crypto, according to Bloomberg sources.
Another big part of the order may be the establishment of a Bitcoin reserve. Donald Trump is supportive of establishing this reserve with seized Bitcoin to give the country an alternative way to pay off debt. The Bitcoin Policy Institute has already drafted an order to make Bitcoin a strategic reserve asset. It would require $21 billion in investment over one year. The US government currently holds nearly $20 billion worth of Bitcoin, confiscated as part of various investigations, according to analytics company Arkham. Bitcoin has rallied 44%, to nearly $100,000, since the November election in part on hopes that such a stockpile would be created.
Also Read: Trump Ready to Sign Executive Orders Supporting Bitcoin & Crypto Sector
“President Trump will deliver on his promise to encourage American leadership in crypto,” stated Trump transition team spokesperson Brian Hughes. Furthermore, besides Bitcoin, the President-elect is reportedly open to creating an America-first strategic reserve for cryptocurrencies like Solana (SOL) and XRP, according to a report from the New York Post. The news will likely spur cryptocurrencies like BTC, SOL, XRP, and altcoins to surge further in the coming days. Already, Bitcoin is creeping back up to $100,000, while Solana is etching closer to a new all-time high in the next month.