Saylor and Lummis Place High Hopes on US Crypto Czar for Digital Asset Progress

Michael Saylor, the co-founder of MicroStrategy, has voiced strong support for former Paypal Chief Operating Officer (COO) David Sacks as the U.S. Crypto Czar, expressing confidence in his potential to lead the country toward becoming a global cryptocurrency powerhouse.

Saylor shared a post on X from Senator Cynthia Lummis, who praised David Sacks’ appointment. His post garnered significant support from X users, many of whom expressed similar enthusiasm for Sacks’ new role.

Under @DavidSacks’ leadership, the U.S. is primed to lead the world in digital assets and financial innovation. https://t.co/Cqf2FushXt
— Michael Saylor⚡️ (@saylor) December 17, 2024

Lummis said that with Sacks as Crypto Czar, the incoming administration is positioned to be the most supportive of digital assets in history. “2025 will be the year for bitcoin & digital assets,” she wrote.

Earlier this month, Ripple CEO Brad Garlinghouse congratulated Sacks on his nomination on an X post, stating that the latter would push forward President-elect Donald Trump’s crypto and AI pro-innovation plans. He even called them a “dream team.”

Huge congrats to @DavidSacks on this appointment – he understands tech inside and out, and importantly, will push forward President Trump’s crypto and AI pro-innovation plans.

Dream team! https://t.co/FFMSCIiscl
— Brad Garlinghouse (@bgarlinghouse) December 6, 2024

Lummis Eager to Work With Sacks on SBR

In her post on X, Senator Lummis also expressed enthusiasm over working with Sacks to pass comprehensive digital asset legislation and establish a Strategic Bitcoin Reserve (SBR).

Her statement came after reports that former President Trump and Crypto.com CEO Kris Marszalek met at Trump’s Mar-a-Lago residence to discuss potential policies affecting the cryptocurrency industry, including plans for an executive order on a Bitcoin reserve.

Following this, Bitcoin Magazine released a draft executive order created by the Bitcoin Policy Institute, which outlines a policy framework for establishing an SBR.

Senator Lummis expressed support for the SBR and has emphasized the importance of creating a national Bitcoin reserve. She has been working on legislative efforts related to digital assets and is one of the key figures pushing for the U.S. to adopt a more favorable stance toward Bitcoin and other cryptocurrencies.

However, the idea of an SBR also faced criticism from several quarters, with some concerns revolving around economic, regulatory, and technical factors. American economist and prominent Bitcoin critic Peter Schiff previously stated that although the proposed bill has received strong backing from the online crypto community, it has not gained similar support on Capitol Hill.

Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

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