On the heels of his historic victory in the 2024 presidential elections, President-elect Donald Trump is reportedly considering the creation of the White House’s first-ever crypto role. Indeed, Trump’s transition team is mulling the potential of such a position as he prepares for his second non-consecutive term, according to a Bloomberg report.
To this point, Trump has amassed a collection of cabinet members that seemingly favor the cryptocurrency industry. Yesterday, Trump nominated Cantor Fitzgerald CEO Howard Lutnick as Commerce Secretary. The pro-Bitcoin executive could be a key player in the development of the country’s digital asset policy.
JUST IN: President-elect Trump team to consider creating first ever White House crypto role.
— Watcher.Guru (@WatcherGuru) November 20, 2024
Also Read: BlackRock Says Trump Win Brings ‘Optimism’ for a Bitcoin Reserve
Trump Team Discusses Creation of White House Inaugural Crypto Role
When Donald Trump emerged victorious in the 2024 presidential election, the cryptocurrency sector looked to be one of the biggest beneficiaries. With the returning president, the industry has its first truly pro-crypto commander-in-chief. Now, the incoming cabinet could be prepared to introduce a game-changer for their industry.
Bloomberg reports that Trump and his team are considering the creation of the first-ever White House crypto role. Indeed, the report notes that Trump has been discussing the idea with cryptocurrency executives throughout this week. The position, if created, would have the sole responsibility of digital asset policy.
AP Photo/Evan Vucci
Also Read: Standard Chartered Says Trump Win May Push Crypto Market Above $10 Trillion
Additionally, Trump and his team are in the midst of vetting possible candidates. If the plan is followed through, it would only reinforce the 45th president’s commitment to the burgeoning industry. Moreover, it could prove to be monumental for its growth in the coming years.
The election outcome drove elation throughout the crypto market. Indeed, Bitcoin has reached consecutive all-time highs, catapulting above the $94,000 level Wednesday. Those increases are expected to continue, with the token likely to surpass $100,000 before Trump’s inauguration.
