President-elect Trump nominated economist and former advisor Stephen Miran as the chairman of the Council of Economic Advisors, which will counsel the Executive Branch on economic policy and strategy, in a Dec. 22 social media announcement.

Miran previously served as a senior advisor for economic policy at the United States Treasury Department under the first Trump administration. During a recent episode of The Bitcoin Layer podcast, Miran said the United States should focus on pro-innovation policies and told the podcast host:

"I think that Financial deregulation is going to be a powerful part of that. I think that crypto has a big role potentially to play in innovation and ushering in another Trump Administration economic boom."

Many in the crypto community celebrated the nomination of Miran as a positive development for the crypto industry, as Donald Trump continues to select pro-crypto and pro-innovation officials for his cabinet.

Trump nominates Stephen Miran as Council of Economic Advisors chairman image 0

Source: Stephen Miran

Related: Trump may use Bitcoin as US reserve asset on 'day one' — How high will BTC price go?

Trump nominates pro-crypto individuals for second administration

Donald Trump nominated Paul Atkins to replace Gary Gensler as the chairman of the Securities and Exchange Commission (SEC) on Dec. 4, 2024.

The President-elect cited Atkins' previous experience as an SEC commissioner from 2002-2008 and his understanding of digital assets through his role as the co-chairman of the Digital Chamber's Token Alliance as the reasons for the nomination.

On Dec. 6, Trump nominated David Sacks as AI and crypto czar — the lead policy advisor for artificial intelligence and digital assets. Sacks is pro-crypto and previously served as PayPal's chief operating officer.

During an appearance on Anthony Pompliano's podcast, Sacks argued that Bitcoin could separate money and state due to its neutral, decentralized nature.

Trump's pro-crypto appointments and the potential creation of a Bitcoin strategic reserve have caused analysts and pundits to forecast a 7-figure price for BTC.

Cathie Wood, founder of asset manager Ark Invest, predicted a $1 million Bitcoin price by 2030 due to the pro-crypto policies of the incoming Trump administration. 

Eric Trump, the son of the President-elect, also said the price per Bitcoin would hit $1 million per coin due to supply scarcity.

Magazine: Crypto has 4 years to grow so big ‘no one can shut it down’: Kain Warwick, Infinex