Trump’s Potential Pick for Treasury Secretary is Seen as Very Pro Crypto

Src: Yahoo Finance

According to recent reports, Donald Trump president elect leading pick for Treasury Secretary is Scott Bessent. Scott Bessent is a billionaire hedge fund investor who is seen as very pro crypto, particularly pro Bitcoin.

Scott Bessent was the top fundraiser for Donald Trump election campaigns. He has expressed excitement about Donald Trump's pro crypto stance and his embrace of the crypto, sharing it "fits very well with the Republican Party."

According to Bessent, Bitcoin has the ability to attract tech-savvy, youthful investors who have never participated in markets before.

Bessent, if appointed could bring major transformations to United States economic policy regarding digital assets, potentially including a strategic Bitcoin reserve.

The nomination of Bessent is seen as Donald Trump's broader strategy to make the country a crypto hub globally, as promised during the presidential campaign.

Experts believe the appointment of Bessent could lead to significant changes in the United States crypto policy and could potentially trigger a further boost in the price of Bitcoin.

Compared to the current regulatory approach this potential appointment indicates a shift towards a more crypto friendly administration. However, It's important to note that if Bessent is formally nominated and confirmed as Treasury Secretary, the actual impact on policy and markets remains to be seen.

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