In a recent interview with CNBC, David Sacks, the official responsible for artificial intelligence and cryptocurrencies in Donald Trump’s administration, highlighted Bitcoin 
$78,302 as a potent store of value. He revealed that plans for establishing a national Bitcoin reserve are among the administration’s priorities. The Trump administration aims to create a clear legal framework for cryptocurrencies, with Sacks emphasizing the potential for legislative completion within the next six months during discussions with U.S. Congress members. Simultaneously, the U.S. Securities and Exchange Commission (SEC) is also planning to adjust its policies concerning cryptocurrencies.
Bitcoin Reserve and Crypto Legislation on the Horizon
Sacks confirmed that the Trump administration is considering the establishment of a national Bitcoin reserve. This initiative is seen as an extension of the support provided to cryptocurrencies during the election process. The administration is working closely with Congress to eliminate regulatory uncertainties.
Sacks expressed optimism regarding the swift progress of legislation, noting his discussions with leaders of the finance and banking committees in both the Senate and House of Representatives. New regulations are set to promote the growth of the cryptocurrency market in the U.S.
The SEC is taking significant steps in this process as well. The regulatory agency has decided to reduce its specialized enforcement unit focused on cryptocurrencies. Previously, the SEC was criticized for its approach of managing through sanctions rather than regulation, and new guidelines will clarify which cryptocurrencies qualify as securities.
New Plans for Stablecoins
Sacks noted that relocating stablecoin issuance to the U.S. is among the administration’s priorities. Many stablecoin projects are currently operating overseas, but the government intends to integrate these projects into the U.S. economy.
Sacks pointed out that stablecoins could extend the global dominance of the U.S. dollar in the digital realm, potentially generating trillions of dollars in new demand for U.S. Treasury bonds.
Despite these developments, Bitcoin’s price continues to decline. The largest cryptocurrency fell over 3% in the past 24 hours to $96,330, largely due to China’s response to Trump’s tariff policies.
