New Era

Donald Trump

Bitcoin

<ul>
 <li style="font-weight: 400;">Crypto leaders, including Michael Saylor and Jeremy Allaire, meet with Trump to discuss industry regulation and Bitcoin adoption.</li>
 <li style="font-weight: 400;">Bo Hines appointed Executive Director, leading the Presidential Council of Advisors on Digital Assets under David Sacks’ direction.</li>
</ul>
The new administration under Donald Trump is assembling a high-profile advisory council to shape crypto policies and establish a strategic Bitcoin reserve. 
Reports indicate that Trump and David Sacks, the incoming AI and crypto czar, are evaluating 24 executives and industry leaders to form the Crypto Council, a body expected to work alongside Congress on legislative frameworks for the crypto asset sector.
<h2 id="b-crypto-leaders-in-discussions-with-trump-b">Crypto Leaders in Discussions with Trump</h2>
Since his election victory, Trump has hosted private meetings with major crypto executives at his Mar-a-Lago residence. Among the visitors was Kris Marszalek, CEO of Crypto.com, who reportedly discussed <a href="https://www.ethnews.com/trumps-crypto-policy-push-industry-expectations-and-potential-executive-orders/" rel="noopener noreferrer nofollow">industry-friendly policies</a> with the president-elect.&nbsp;
Brad Garlinghouse, CEO of Ripple, and Jeremy Allaire, CEO of Circle, have also been involved in high-level discussions, with Circle notably contributing $1 million in USDC to Trump’s inaugural committee. 
Additionally, Michael Saylor, the CEO of <a href="https://www.ethnews.com/nasdaq-vs-btc-microstrategys-stock-plummets-despite-crypto-climbing/" rel="noopener noreferrer nofollow">MicroStrategy</a>, has engaged with Eric Trump on Bitcoin’s role in U.S. economic strategy.
<h2 id="b-bo-hines-to-lead-the-presidential-crypto-advisory-council-b">Bo Hines to Lead the Presidential Crypto Advisory Council</h2>
At the center of this initiative is Bo Hines, a former congressional candidate who has been appointed ExecutiveDirector of the Presidential Council of Advisors on Crypto Assets. Hines, a Yale graduate and Wake Forest Law alumnus, will report directly to David Sacks, working to advance innovation and institutional adoption of crypto assets.&nbsp;
His leadership is expected to facilitate industry engagement, ensuring that crypto businesses have the necessary regulatory support to thrive.
<h2 id="b-strategic-bitcoin-reserve-a-new-era-for-u-s-digital-assets-b">Strategic Bitcoin Reserve: A New Era for U.S. Digital Assets?</h2>
One of the council’s primary objectives is to implement Trump’s plan for a U.S. strategic <a href="https://www.ethnews.com/steve-hanke-opposes-strategic-bitcoin-reserve-amid-policy-debate/" rel="noopener noreferrer nofollow">Bitcoin reserve</a>, a move that could redefine institutional crypto adoption. Activist Dennis Porter has suggested that this initiative could be launched within Trump’s first 100 days in office, marking a pivotal shift in the nation’s monetary policy.&nbsp;
However, the finalization of this reserve depends on the confirmation of Scott Bessent as Treasury Secretary, who would oversee the crypto asset treasury. An executive order from Trump could be the final step in securing the reserve’s legitimacy and operational framework.
<figure style="width: 100%" class="wp-caption aligncenter"><img src="https://www.ethnews.com/wp-content/uploads/2025/01/BTCUSDT_2025-01-10_17-55-44.png" alt="BTCUSDT_2025-01-10_17-55-44" width="1736" height="744">
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 Source: Tradingview
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Bitcoin (BTC) is currently trading at $94,668.82, reflecting a 1.59% increase in the last 24 hours. Its market capitalization stands at $1.87 trillion, with a 24-hour trading volume of $68.39 billion, marking a 17.78% increase. The circulating supply is 19.8 million BTC, with a fixed maximum supply of 21 million BTC.
<h3 id="b-bitcoin-network-and-market-trends-b">Bitcoin Network and Market Trends</h3>
Bitcoin’s network security remains at an all-time high, with its hashrate continuing to set new records, reinforcing miner confidence. The Bitcoin halving in April 2024 is expected to reduce block rewards from 6.25 BTC to 3.125 BTC, which historically has led to supply shocks and price increases.
On-chain data indicates that long-term holders (LTHs) are accumulating BTC, reducing available liquidity on exchanges. This suggests that investors are preparing for a long-term price appreciation, rather than selling at current levels. Additionally, whale transactions have increased by 12%, showing renewed interest from high-net-worth investors.
From a technical perspective, BTC is trading above key moving averages, indicating a bullish structure. The 200-day moving average (MA) continues to act as strong support around $91,000 – $92,000, while resistance is forming at $96,000 – $98,000. A breakout above this range could push BTC towards the $100,000 milestone.
With growing network security, increased whale accumulation, and the upcoming halving event, Bitcoin is positioned for a potential continuation of its bullish cycle. However, if BTC faces rejection near $96,000, a correction towards $92,000 – $93,000 could occur before further upward momentum.
The post <a href="https://www.ethnews.com/trump-and-david-sacks-select-key-figures-for-crypto-advisory-council/" rel="noopener noreferrer nofollow">Trump and David Sacks Select Key Figures for Crypto Advisory Council</a> appeared first on <a href="https://www.ethnews.com" rel="noopener noreferrer nofollow">ETHNews</a>.

Trump and David Sacks Select Key Figures for Crypto Advisory Council

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