US Crypto Czar: Bitcoin is an Excellent Store of Value

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David Sacks, the AI and crypto expert appointed by President Donald Trump, stated in an interview with CNBC on Tuesday that he believes Bitcoin to be an exceptional store of value.

He explained that it is the first and strongest digital currency, having existed for over 12 years without being hacked or compromised in terms of security.

Further, Sacks outlined the administration’s plans for cryptocurrency, stating that one of their top priorities is to evaluate the possibility of creating a national strategic Bitcoin reserve.

This is one of several pro-crypto policies that Trump has advocated for, and he has also shown support for clearer regulations in the industry.

In fact, he recently signed an executive order to establish a working group dedicated to drafting new regulations for crypto assets.

During a meeting with banking and finance committee leaders in Congress, Sacks assured that there is a strong commitment to pass legislation this year in order to provide a clear regulatory framework for the digital assets ecosystem. He also expressed optimism that this could be achieved within the next six months.