Donald Trump, set to take office as the 47th U.S. President on January 20, is preparing to issue an executive order that will designate cryptocurrency as a national priority, according to a Bloomberg report. The move signals a significant policy shift, granting the crypto industry a larger role in shaping government policies and decisions.

Sources familiar with the matter revealed that the executive order will encourage federal agencies to collaborate with the crypto sector and is expected to establish a cryptocurrency advisory council to address the industry's policy needs.

At the time of the report, Bitcoin was trading at $101,021.39, with a market capitalization of $2 trillion.

Increased Crypto Industry Influence

Trump’s decision comes as the cryptocurrency industry ramps up its support for his administration. Prominent companies, including Coinbase and Ripple, have contributed to his inaugural committee, reflecting the sector’s confidence in his leadership. To celebrate their growing influence, the industry will host an "Inaugural Crypto Ball" in Washington ahead of Trump’s swearing-in.

This initiative marks a stark departure from the regulatory challenges faced by the crypto sector under President Joe Biden’s administration. During Biden’s term, federal agencies, including the Securities and Exchange Commission (SEC), pursued over 100 enforcement actions against crypto firms.

Trump’s proposed order may include a review of all government policies on digital assets. It could also temporarily pause ongoing litigation involving major cryptocurrency firms, such as Binance Holdings Ltd. and Ripple Labs Inc., a move highly anticipated by the industry.

Establishing a National Bitcoin Stockpile

A key element of the proposal involves the creation of a national Bitcoin stockpile. The U.S. government currently holds nearly $20 billion worth of Bitcoin, seized during various investigations, according to analytics firm Arkham. With Bitcoin prices surging by over 50% since the November election, speculation about the potential stockpile has contributed to its rise past $100,000.

Formalizing the government’s Bitcoin holdings would signal a strategic shift in its approach to cryptocurrency. Bitcoin experienced remarkable growth throughout 2024, more than doubling in value over the year.

Kara Calvert, Vice President for U.S. Policy at Coinbase, praised Trump’s potential initiative. “This signals that the U.S. is ready to lead the cryptocurrency industry and challenge other nations to keep up,” she told Bloomberg.

A Broader Vision for the Industry

Trump has promised to position the U.S. as a global hub for cryptocurrency. His administration is expected to issue several executive orders across industries during the early days of his term, underscoring his ambitious agenda.

Despite regulatory obstacles in recent years, the U.S. crypto industry has demonstrated resilience, with major financial institutions like BlackRock introducing spot Bitcoin and Ether ETFs. Trump’s proposed initiatives could provide the clarity and support the sector needs to thrive further.

This executive order represents a potential turning point for the U.S. crypto landscape, offering a pathway for innovation and global leadership in digital assets.