David Sacks, former President Donald Trump’s AI and Crypto Czar, called Bitcoin an “excellent store of value” during a February 4 CNBC interview, framing it as modern-day digital gold.
The administration aims to reshape U.S. crypto policy, prioritizing deregulation to assert dominance over global rivals like China and the EU. Sacks stressed Bitcoin’s 12-year unbroken security record and capped 21 million supply as key advantages for investors seeking inflation hedges.
Analysts at Bernstein predict Bitcoin could eclipse gold’s market role within a decade, citing its ease of transfer and storage. Prices held near $94,857 ahead of Sacks’ remarks but dipped below $97,000 after he revealed delays in creating a federal Bitcoin reserve.
The administration’s immediate focus rests on passing Senator Bill Hagerty’s GENIUS Act, requiring stablecoin issuers like Tether and Circle to back tokens with cash or Treasuries. Sacks argued this could funnel trillions into U.S. debt markets, easing pressure on bond yields.
Tether minted $2 billion in USDT this year, while Circle added $6.5 billion in USDC, reflecting institutional demand for dollar-linked crypto. A proposed Treasury-held Bitcoin reserve—revived from Trump’s 2024 campaign—remains in early planning.
Sacks confirmed the team will explore acquiring BTC via seizures or purchases, though Senate gridlock stalls progress. Critics call the plan symbolic, but 15 states already explore similar reserves to hedge against dollar risks.
Crypto Policy Shift
The SEC disbanded its crypto enforcement division, shifting to collaborative rulemaking under Commissioner Hester Peirce, a longtime industry advocate. President Trump’s January 23 order banned Fed-issued CBDCs, labeling them “surveillance tools,” while fast-tracking private dollar stablecoins.
Bipartisan lawmakers now draft legislation to clarify crypto oversight, targeting a six-month deadline. Sacks vowed to halt “regulatory overreach,” citing Ripple’s SEC lawsuit as cautionary. Bitcoin could hit $105,000 by month’s end, analysts say, if ETF approvals accelerate.
This pivot signals a broader strategy: leveraging crypto to reinforce dollar hegemony while attracting capital fleeing restrictive regimes. For investors, it’s a high-stakes bet on deregulation driving innovation—or repeating the risks of unchecked financial experimentation.
Live Market IntelligenceCrypto — Live Market Board
Rio Times · Live Market Intelligence
Crypto — Live Market Board
-0.26%
| Instrument | Last | Change | YoY | Prev. | High | Low | Volume |
|---|---|---|---|---|---|---|---|
| BTC | 63,384 | -0.26% | -47.24% | 63,552 | 64,346 | 63,305 | 22,774,743,040 |
| ETH | 1,886 | +0.26% | -58.90% | 1,881 | 1,920 | 1,879 | 7,916,475,392 |
| SOL | 75.89 | -0.40% | -60.44% | 76.20 | 76.99 | 75.39 | 1,473,821,056 |
| XRP | 1.01 | -1.15% | -69.07% | 1.02 | 1.02 | 1.01 | 1,144,044,416 |
| BNB | 609.60 | -1.12% | -26.81% | 616.50 | 619.30 | 609.23 | 1,266,706,432 |
| ADA | 0.18 | -1.98% | -78.22% | 0.19 | 0.19 | 0.18 | 238,085,632 |
| DOGE | 0.07 | -1.56% | -70.00% | 0.07 | 0.07 | 0.07 | 553,256,192 |
| AVAX | 6.38 | +1.04% | -74.11% | 6.32 | 6.42 | 6.21 | 248,470,560 |
| LINK | 8.77 | -0.06% | -62.73% | 8.77 | 8.87 | 8.68 | 317,054,880 |
| DOT | 0.78 | -0.75% | -81.11% | 0.79 | 0.80 | 0.78 | 43,490,492 |
| LTC | 45.08 | -0.85% | -65.45% | 45.47 | 45.59 | 44.98 | 143,727,712 |
| BCH | 213.85 | +0.10% | -65.44% | 213.64 | 215.69 | 212.54 | 137,956,688 |
| TRX | 0.34 | +0.28% | -4.73% | 0.33 | 0.34 | 0.33 | 436,576,064 |
| XLM | 0.16 | -1.33% | -64.46% | 0.16 | 0.16 | 0.16 | 89,559,864 |
| HBAR | 0.07 | -0.53% | -74.67% | 0.07 | 0.07 | 0.07 | 22,546,186 |
| NEAR | 1.65 | +2.42% | -40.55% | 1.62 | 1.68 | 1.61 | 187,591,264 |
| ATOM | 1.40 | -2.36% | -70.15% | 1.44 | 1.44 | 1.40 | 18,626,964 |
| AAVE | 89.06 | +0.93% | -72.33% | 88.24 | 90.20 | 88.19 | 129,099,704 |
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error
Read More from The Rio Times