David Sacks was recently appointed by President-elect Donald Trump as the top advisor on AI and cryptocurrency. Known by the nickname “Crypto Czar,” Sacks is not only a fervent supporter of cryptocurrency but also a technology expert with many years of experience. He is particularly notable for his views praising Bitcoin as a potential tool to separate currency from state control.
In a conversation with Anthony Pompliano, former PayPal executive, Sacks asserted Bitcoin's ability to hedge against fiat inflation and its anti-censorship properties. He compared the historical intertwining of church and state with the current relationship between currency and state, but emphasized that Bitcoin opens up a vision to separate these two elements, allowing currency and state to exist independently.
"We cannot think of money without the state, but Bitcoin is like a sci-fi future, where you can separate these two things."
Sacks's appointment received a warm welcome from the cryptocurrency community, due to his strong support for the industry. Industry executives expressed excitement on social media.
On December 5, Trump announced Sacks's appointment as “AI and crypto Czar,” with a commitment to help establish a clear regulatory framework for digital assets. Sacks, noted for being a major investor in Solana, has continued to maintain faith in this coin, despite the collapse of FTX in November 2022. He has also predicted that Solana will surpass Ethereum in both market capitalization and usage.
David Sacks's appointment comes after Scott Bessent, a hedge fund manager who supports cryptocurrency, was nominated as Treasury Secretary. Bessent, who has described cryptocurrency as a form of freedom, strongly believes in the sustainability of the cryptocurrency economy and asserts that “the crypto economy will endure over time.”
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