Here Is Who Among Trumps Nominees Is Backing Bitcoin

As the countdown to Donald Trumps inauguration grows shorter, a potential shift in the crypto regulatory landscape is becoming clear, with several of his appointees publicly backing Bitcoin and revealing personal investments.

Among the most prominent figures backing Bitcoin is Trumps nominee for Secretary of Defense, Pete Hegseth. In a previous interview with Fox Business, Hegseth stated, Im holding a bunch of Bitcoin. Notably, his latest financial disclosures reveal that he owns Bitcoin valued between $15,000 and $50,000.

Elsewhere, former candidate for Vice President under Trump, J.D. Vance, is another key figure in Trumps camp who has expressed his support for Bitcoin. Last August, Vance revealed in federal disclosure forms that he holds up to $500,000 in Bitcoin, emphasizing his confidence in the future of cryptocurrencies.

Additionally, Trumps pick to lead the SEC, Paul Atkins, is a longtime Bitcoin advocate and proponent of free-market policies. A former commissioner, Atkins has earned praise from the crypto community for supporting blockchain and digital currencies. Many expect his appointment to bring favorable regulatory changes, with hopes he will reverse the strict policies of outgoing SEC Chairman Gary Gensler, who is set to resign on January 20.

Scott Bessent, selected as Trumps Treasury pick last week, is another major figure who has openly supported Bitcoin. Bessent, who has disclosed holding up to $500,000 in Bitcoin through the iShares Bitcoin Trust ETF (IBIT), also joins a growing list of individuals in the Trump administration who view cryptocurrency as a viable financial tool.

Additionally, Howard Lutnick, Trumps choice for Secretary of Commerce, is well-known in the crypto space. Lutnick, who leads Cantor Fitzgerald, an entity that manages assets for Tether, the issuer of the worlds largest stablecoin, has long been a proponent of digital currencies, further signaling Trumps embrace of the crypto world.

That said, this trend aligns with the former presidents recent comments suggesting that Bitcoin could play a role in addressing the United States national debt. Last year, Trump mused about using Bitcoin to pay down the nations staggering $35 trillion debt, further solidifying his commitment to crypto.

Moreover, Trump has invested heavily in cryptocurrencies, with his portfolio reportedly valued at just over $9 million following a 50% surge just last September alone. His holdings include ETH, BTC, various meme coins, as well as significant earnings from NFTs, which generated approximately $7 million in licensing deals.

Meanwhile, in a Tuesday interview, Eric Trump reaffirmed his fathers crypto ambitions, emphasizing plans to position the U.S. as a global crypto hub.

We love Bitcoin we love the industry and frankly its an industry thats been totally under attack, Eric said. Were going to stop it. [Trump] frankly pledged to make America the crypto capital of the world. I hope everybody understands if we dont embrace it now, were going to be left behind.

That said, as Trumps administration takes shape, the alignment of key figures in his team with crypto signals a shifting relationship between the government and the sector. While the impact of regulatory changes remains uncertain, its clear that Bitcoin and other cryptocurrencies will play a significant role in shaping U.S. economic policy when he takes office.

Text source: ZyCrypto

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