Donald Trump’s recent appointment to be his White House AI and crypto czar, David Sacks, has proven to be all-in on Solana, with many traders expecting 2025 to be a record year for SOL. Indeed, the former PayPal executive has been open about his belief in the cryptocurrency.
A co-host of the All-In podcast, Sacks publicly disclosed SOL holdings in 2021. Just two years later, he referred to Solana as the “biggest turnaround,” while noting that he did not sell the asset following the collapse of FTX. At the time, the token was a high-risk investment, considering the project’s close connection to Sam Bankman-Fried.
These facets could be massive for Solana. Amid what has been an incredible November, Sacks’ presence could be huge for what was already predicted to be an incoming bull rally for the token.
David Sacks Brings Solana Advocate to White House: Is SOL Bound For New Highs in 2025?
Although 2024 has been massive for the crypto sector, November pushed things into another gear. With the 2024 presidential election win for Donald Trump, the asset class went skyrocket. Led by Bitcoin’s surge to six figures for the first time ever, a host of tokens were on all-time trajectories.
Among the most affected was Solana, who has surged in recent weeks. However, that may just be the start as Donald Trump’s pick to be the White House’s crypto czar is all-in on Solana, and it could be setting up SOL for a record year in 2025.
The crypto has surged more than 28% in the last 30 days, according to CoinMarketCap. Despite a slight correction, it is still trading at $240, getting ever closer to matching its $263 all-time high set earlier this month. Sacks’ position brings a SOL advocate to the US government and could only make its immense potential even stronger.
Price prediction platform CoinCodex predicts that Solana could be on its way to a $270 price in January. That would be an all-time mark and a 12% increase from its current position. Moreover, they project the asset to surpass $419 as early as June of next year.
That could be even greater if Solana can enter the mix as the next crypto-based ETF. 2024 had seen both Bitcoin and Ethereum get their own exchange-traded fund. For most of the year, the market anticipated SOL as the next up. Sacks’ presence and the appointment of Paul Atkins as SEC Chair could bring that to fruition.
