President Trump has promised to make crypto a national priority in his administration. CNBC's MacKenzie Sigalos reports he may sign an executive order that is crypto-specific, creating a crypto advisory council and possibly creating a federal crypto stockpile.

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Bitcoin has experienced a significant surge, crossing the $100,000 mark, amid reports of impending cryptocurrency policies from former President Trump. According to CNBC's MacKenzie Sigalos, Trump is considering making cryptocurrency a national priority during his administration. Plans may include signing an executive order specific to crypto, forming a crypto advisory council, and potentially creating a federal crypto stockpile.

Industry specialists have reportedly spent months preparing a plan for Trump's transition team, focusing on key crypto-related matters. This includes forming a crypto advisory council from C-suite executives who participated in pre-election roundtables with Trump. Discussions have also touched on freezing over 100 enforcement actions against crypto firms, excluding those involving fraud allegations. Coinbase and Robinhood have already shown positive market responses given this possibility. 

Another major proposal is the creation of a national Bitcoin stockpile. The plan suggests moving $20 billion worth of Bitcoin, currently overseen by the marshals, under the Treasury Department. Senator Lummis of Wyoming has actively pushed for an aggressive Bitcoin purchasing strategy, which includes acquiring 1 million Bitcoins over five years. However, details regarding the establishment of a strategic Bitcoin reserve as part of an executive order remain unconfirmed.



Bitcoin surges past $100k as Trump plans to unveil new crypto policies

There are multiple reports that we're going to see an executive order that's crypto-specific on day one in office. I've been talking to a lot of industry specialists who've been putting together a plan over the last several months, channeling that to the Trump transition team. Some of the big pillars of this type of plan involve a crypto advisory council. So essentially a lot of the C-suite executive members of different crypto firms who went to roundtables with President Trump in the run-up to the election in Nashville and Mar-a-Lago, they were told that this would be the pool of candidates from which he would form this advisory council. And this would be separate to that AI and crypto task force that has been convened under David Sachs. Now, separately, there's also talk that they might look to, there have been more than 100 enforcement actions brought against crypto firms over the last four years. And one of the potential proposals here that could be a part of an EO would be to freeze these enforcement actions if they don't involve allegations of fraud. So right now you've got Coinbase, Ripple, Robinhood received a Wells notice from the SEC. And so if you see some of these enforcement actions frozen, that could be a game changer. Robinhood and Coinbase both ending up 5%. And then the big one, Melissa, is the fact that we might see a national Bitcoin stockpile. This is something that Trump first introduced the idea of in July in Nashville. What's interesting is that over the last few months, we've seen a lot of executives from the crypto industry meet with Trump behind closed doors to advocate for other cryptocurrencies to be a part of this. You have Brad Garlinghouse, the CEO of Ripple, which is closely aligned with the XRP token, advocating for just that. So in terms of a crypto stockpile, presumably it would be under the purview of the Treasury Department. Has Besson said anything about it? So at this point, all that's been mentioned is that the $20 billion worth of Bitcoin that already sits on the government's balance sheet under the purview of the marshals would potentially be migrated to this stockpile and be under the purview of the Treasury. We haven't heard whether or not that's going to happen. You've got names like Senator Lummis of Wyoming, who's been actively advocating for a more aggressive buying plan, 1 million Bitcoin over the next five years. She's been meeting with members of the Trump transition team and some of his cabinet appointees reportedly to discuss that plan and making that a reality. But at this point, we're still waiting to see if this strategic Bitcoin reserve would be a part of an executive order if it's brought next week. Mackenzie, thank you. Have fun at the ball. Should be interesting. Mackenzie Sigalos.

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