After the 2024 presidential election, President-elect Donald Trump is reportedly considering establishing the first position focused on cryptocurrency in the White House. This move underscores potential commitment to the digital asset sector as Trump prepares for his non-consecutive second term.
Trump's interest in integrating cryptocurrency policy more directly into his administration has been highlighted in a recent Bloomberg report, which noted ongoing discussions within his transition team.
This prospective role will focus on shaping U.S. digital asset policy and coordinating with stakeholders to promote the integration of this sector into the national economy.
The proposed cryptocurrency role reflects greater acceptance of digital money within Trump's circle, evidenced by his recent nomination of Howard Lutnick, CEO of Cantor Fitzgerald and a Bitcoin supporter, as Secretary of Commerce.
Lutnick's appointment can be seen as a positive signal for the future of cryptocurrency policy under the Trump administration.
The reaction to Trump's election victory had a significant impact on the cryptocurrency market. Bitcoin's price skyrocketed to a new high, reaching $94,000 in a short time, as investors anticipated a more favorable regulatory environment under President Trump that could encourage broader adoption and investment in digital assets.
If realized, this first cryptocurrency role in the White House could influence both national policy and global perception of the U.S. as a leader in innovation and cryptocurrency governance.
This initiative shows a strategic alignment with the rapidly growing digital economy and recognition of cryptocurrency's potential to impact financial markets, drive technological innovation, and shape economic policy.
Bitcoin (BTC) is currently trading at $94,385, reflecting a daily increase of 2.12%, indicating that strong bullish momentum continues to dominate the market. Over the past week, BTC has seen a rise of 7.21%, while its monthly growth has reached an impressive 36.77%.
As of now, Bitcoin has surged 123.35%, driven by increasing institutional interest, rising adoption by retailers, and improving macroeconomic prospects for digital assets.
Technically, Bitcoin is approaching a critical resistance level at $95,000, marking a key point before testing the psychological milestone of $100,000. If BTC can surpass this level, it may trigger further bullish momentum and potentially rise to new all-time highs. On the downside, the immediate support level currently exists around $85,000, which is a crucial level that could stabilize prices in the event of a short-term correction.
