President Trump is making Bitcoin a key priority in his second term, vowing to keep a sharp focus on its price while steering his administration into a crypto-friendly era.
The incoming administration has drawn up plans to integrate cryptocurrency, artificial intelligence, and Silicon Valley’s fast-paced ethos into the very core of Washington.
Trump’s approach to Bitcoin is straightforward: no overregulation, no stifling, and a strong push for America to dominate.
Eric Trump, speaking at the Bitcoin MENA 2024 conference in the United Arab Emirates, set the tone by declaring that his father’s administration would be “the most pro-crypto presidency in history.”
He celebrated Bitcoin’s milestone of hitting $100,000, also crediting his father’s decision to appoint a crypto-friendly SEC chair.
Silicon Valley lands in Washington
It’s pretty clear that Trump’s second term will be about reshaping the U.S. government with Silicon Valley’s biggest disruptors. David Sacks, a veteran of the “PayPal Mafia,” has been tapped as the new White House AI and crypto czar.
“We want to make America the clear global leader in both areas,” he has said, outlining plans to overhaul federal crypto policies.
Elon Musk, Trump’s biggest donor this election cycle and his partner in overhauling government priorities, will wield unprecedented influence.
From living at Mar-a-Lago to accompanying the president-elect on global visits, Elon is now co-architect of the new administration, pushing for radical changes in spending and personnel. Under Trump, Elon-backed projects are set to receive a significant boost, including a reshaped NASA led by tech billionaire Jared Isaacman, who famously partnered with SpaceX for a private spacewalk.
Then there’s the Department of Government Efficiency, or DOGE—yes, named after Dogecoin. Co-founded by biotech entrepreneur Vivek Ramaswamy and Elon, DOGE’s goal is to streamline government processes, eliminating what Musk calls “old-school inefficiency.”
Crypto ties trigger ethical questions
Eric’s was a business move. The president’s family’s new cryptocurrency platform, World Liberty Financial, was heavily promoted during the event. “The system turned on us, and crypto turned us back on,” he said, pointing directly at JPMorgan Chase and other banks that distanced themselves from the Trump Organization.
During the conference, Eric and Steve Witkoff, Trump’s new Middle East envoy and longtime real estate associate, met with Justin Sun, a crypto executive facing fraud charges from the SEC right now.
The ethical questions don’t end there. Witkoff, while working on a Middle East peace deal, also promoted World Liberty Financial at the event. His dual role as a government official and business promoter is fueling concerns over blurred lines between public service and private profit.
The rise of Trump’s tech dynasty
Beyond crypto, Trump’s administration is poised to be a tech-driven machine. Peter Thiel, another “PayPal Mafia” alum and longtime ally, has secured key positions for his network.
Jim O’Neill, former CEO of the Thiel Foundation, is stepping in as deputy secretary of Health and Human Services. Vice President-elect JD Vance, a former venture capitalist mentored by Thiel, is expected to champion tech-friendly policies.
Marc Andreessen, an internet pioneer and crypto elite, has also joined the fray, interviewing candidates for top government positions alongside Elon. Even Jeff Bezos, Elon’s famously acclaimed top rival, appears aligned with Trump’s vision.
At the same time, Paul Manafort, Trump’s former campaign chairman and a convicted felon pardoned during the president’s first term, is back in the mix. Speaking at Bitcoin MENA, Manafort celebrated Bitcoin’s rise and hinted at even higher prices under Trump’s leadership. “This is just the beginning,” he told the crowd.
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