Trump’s Crypto Advisor, David Sacks, is a Solana Supporter

David Sacks, the ex PayPal executive and co-host of the All-In podcast, appointed as the White House Director of Artificial Intelligence and Cryptocurrency by President-elect Donald Trump yesterday, is a Big Solana investor.

Sacks first mentioned his interest in Solana in 2021, when he shared in Episode 50 of the All-In podcast that he had bought large amounts of SOL at a discounted price. 

Sacks also spoke about how Solana was a “big turnaround” project, which got him excited about its future. Even when the crypto faced challenges, especially when FTX collapsed in late 2022, which had strong ties to Solana, Sacks kept holding onto his investment.

In December 2023, during the 159th episode of the podcast , Sacks confirmed that his investment had grown by 92% annually. There were rumors that he sold off his holding after the FTX crises, but Sack denied it saying that “Those of us who are still holding bags of Solana are very happy campers right now.”

He also saw a potential in Solana as a blockchain that has what it takes to challenge Ethereum as the preferred blockchain for developers and users. In the podcast, he mentioned “There’s a lot of people, I’d say, smart money in Silicon Valley who are betting on a flipping where Solana could ultimately overtake Ethereum.”

Although he acknowledged that Solana might not surpass Ethereum right away, he believed it had the potential to rise even higher in the market. 

SOL is 5th in top 5 crypto assets by Market Cap | Source: CoinMarketCap

During that time, Solana was already the seventh-largest cryptocurrency by market value, but right now, Solana is in fifth place and Sacks still feels confident it could grow even more.