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Trump’s Crypto Advisor Highlights Bitcoin’s Strength, Discusses U.S. Reserve Plans

Trump’s Crypto Advisor Highlights Bitcoin’s Strength, Discusses U.S. Reserve Plans

David Sacks, appointed as the crypto and AI advisor under the Trump administration, recently praised Bitcoin as a "reliable store of value" during an interview with CNBC.

He emphasized Bitcoin’s status as the original digital currency, highlighting its robust security and resilience since its inception over a decade ago.

In a press briefing, Sacks also shared that one of the key priorities for the administration’s crypto working group is the evaluation of a national Bitcoin reserve. This move aligns with Trump’s earlier campaign push for pro-crypto policies, including clearer regulations for digital assets. According to Sacks, legislation aimed at defining a stable regulatory framework for cryptocurrencies could be enacted within six months.


READ MORE: Trump Pushes for Sovereign Wealth Fund, Raising Bitcoin Speculation


Meanwhile, the U.S. Securities and Exchange Commission (SEC) is adjusting its stance on crypto, with a new task force focused on distinguishing which digital assets are classified as securities. The SEC’s recent changes come after criticism of its previous approach under Gary Gensler. In another policy shift, Sacks noted that the Trump administration aims to foster stablecoin innovation domestically, which he believes could strengthen the U.S. dollar’s global influence.

Despite these developments, Bitcoin experienced a slight dip, losing 2.8% of its value to trade at approximately $98,052, amidst concerns related to new tariffs imposed by China.

Author
Alexander Stefanov

Reporter at CoinsPress

Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.

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