Trump and David Sacks evaluate council candidates.
The committee would seek to establish a strategic reserve of BTC, fulfilling Trump’s promises.
Donald Trump’s new administration plans to name some 24 CEOs and founders to its crypto asset advisory board. This team will collaborate with Congress in the creation of laws related to the sector, and, in line with what the new president promised, will work on the implementation of a strategic BTC reserve. This was revealed by sources in the sector to Bloomberg, who requested anonymity.
Several candidates for this advisory council reportedly have ties to Trump and have met with him recently. For now, the new president and his team, including David Sacks, future artificial intelligence and cryptocurrency czar in the White House, continue to evaluate the candidates.
Since his victory last November, Donald Trump has received several prominent figures in the cryptocurrency sector at his Mar-a-Lago residence. Among them is Kris Marszalek, CEO of Crypto.com, who held a meeting with the new president to discuss policies favorable to the industry.
Also notable among the visitors are Brad Garlinghouse, CEO of Ripple, and Jeremy Allaire, Executive Director of Circle, a company that donated 1 million USDC to Trump’s inaugural committee. Additionally, Michael Saylor, CEO of MicroStrategy, has held meetings with Eric Trump to discuss bitcoin’s role in the US economy.
The cryptocurrency advisory board will be led by Bo Hines, a former congressional candidate from North Carolina. Hines was elected in December and will report directly to David Sacks. Trump, who seemed very convinced of his decision, came to the social network Truth Social to express themselves.
Bo Hines will be the Executive Director of the President’s Council of Digital Asset Advisors (the ‘Crypto Council’), a new advisory group composed of leading figures in the cryptocurrency industry and chaired by David Sacks. Bo is a graduate of Yale University and Wake Forest University School of Law. In his new role, he will work alongside David to foster innovation and growth in the digital asset spaceensuring industry leaders have the resources they need to succeed. Together they will create an environment where this industry can thrive and continue to be a key player in our nation’s technological advancement.
Donald Trump.
With the imminent start of Trump’s second term, the cryptocurrency sector is looking forward to a new regulatory era. Activist Dennis Porter has highlighted the possibility of the government establishing the strategic bitcoin reserve within its first 100 days, which would mark a milestone in the institutional adoption of the cryptocurrency.
However, the implementation of this reserve is linked to a series of steps, among which the confirmation of the Secretary of the Treasury, Scott Bessent, who would be in charge of managing the digital treasury, and the eventual signing of an executive order by part of the president. With the proposal to create a strategic reserve in BTC, The United States is expected to serve as a catalyst for global adoption of the leading cryptocurrency.