Bitcoin has suddenly rocketed toward a $100,000 price, adding to a rally that’s seen bitcoin add 50% over the last month and fueled a shocking $30 trillion bitcoin price prediction.
The bitcoin price has climbed steadily this year, pushed on by a fleet of spot bitcoin exchange-traded funds (ETFs) hitting Wall Street, interest from U.S. president-elect Donald Trump and expectations of Federal Reserve interest rate cuts—with a top Fed official recently revealing a surprise bitcoin flip.
Now, as traders bet on a Trump bitcoin “game-changer,” a leak has revealed Trump could appoint the first ever White House “crypto czar.”
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U.S. president-elect Donald Trump has helped the bitcoin price boom this year.
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Trump’s top team is meeting with bitcoin and crypto experts and industry executives to discuss creating a White House role dedicated to cryptocurrency policy, overseeing policy and regulation across the federal government, Bloomberg reported, citing anonymous sources.
The appointment of a White House crypto czar would likely boost already sky-high expectations that Trump could create a U.S. bitcoin strategic reserve that would see him follow through on promises made during a July bitcoin conference in Nashville, Tennessee to make the U.S. the “crypto capital of the planet.”
Speculators on the crypto-powered Polymarket prediction platform now see a more than 40% chance that Trump will create a bitcoin strategic reserve, with the odds climbing sharply following the leak of Trump’s crypto czar discussions.
Earlier this year, U.S. senator Cynthia Lummis (R-Wyo.) introduced The Bitcoin Act to Congress, calling for the creation of a strategic bitcoin reserve to reduce the U.S.’s spiraling, near-$36 trillion national debt by buying 1 million bitcoin over five years.
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The bitcoin price has surged toward $100,000 per bitcoin, smashing its previous all-time high and … [+] making bitcoin a $2 trillion asset.
Forbes Digital Assets
Meanwhile, David Bailey, the chief executive of Bitcoin Magazine publisher Bitcoin Inc and advisor to the Trump on bitcoin strategy, has said he believes Trump could appoint senator Bill Hagerty, a bitcoin and crypto advocate, as his Treasury secretary.
“If it happens, back up the truck and dump everything you own into bitcoin,” Bailey posted to X.