- Donald Trump plans to make crypto a policy priority through an executive order, sources told Bloomberg this week.
- The order could direct government agencies to suspend anti-crypto litigation.
- A national Bitcoin stockpile is also under discussion.
Donald Trump is set to sign an executive order making crypto a policy priority on the first day of his presidency, sources told Bloomberg.
The order is expected to highlight crypto as a national imperative and include language imploring members of government to work closely with the industry, people familiar with the matter said. The order also calls for the creation of a crypto advisory council to guide policy.
If the order includes these details, it would bring about transformation across the industry and potentially lead to the elimination of regulatory issues that have long plagued the digital assets space.
Trump campaigned on the idea of looser regulation and federal support for Bitcoin, and the order lays out some of the most detailed clues as to exactly how he might work to achieve that.
Changes to the order could ultimately end many investigations and prosecutions initiated under the Biden administration. Crypto industry insiders have lamented the Securities and Exchange Commission’s heavy-handed approach to the space, which has regulated through law enforcement.
The decree could also prompt the creation of a national bitcoin stockpile, with discussions still ongoing.
Trump first mentioned the idea during a speech in July, sparking a bullish fervor among bitcoin holders that has yet to fade. If included, it ensures that the US government will never sell crypto assets confiscated during federal investigations. Washington currently holds more than $20 billion in bitcoin, according to data from analytics firm Arkham.
Proponents argue that, by not selling, the stocks offer the United States a hedge against inflation, as long as bitcoin continues to appreciate. Some also see the growing value of Bitcoin as a way to pay off the country’s growing debt. These theories have underpinned more ambitious calls for a bitcoin reserve, in which the government harvests more tokens at the top.
Bitcoin surged following the Bloomberg report, with the currency once again on its way to its all-time high. If risk appetite persists, Alex Kuptsikevich, chief market analyst at FxPro, expects the token to range between $108,000 and $110,000 within a few days.
“Continued upward movement could trigger FOMO, potentially pushing the price to $130,000 by the end of January,” he wrote.
However, Bloomberg sources cautioned that the executive order could still change and is not final.
Even though the order is not up to par in some areas, crypto traders see 2025 as an explosive year for digital assets. Under Trump, pro-crypto regulators are taking the lead and industry-friendly legislation is expected to pass Congress. This is an environment in which altcoins and bitcoin could win big, according to predictions.