President-elect Donald Trump’s latest cabinet nominations have fueled excitement within the cryptocurrency and innovation sectors. On Dec. 22, Trump announced economist Stephen Miran as his pick for chairman of the Council of Economic Advisors. Miran, a former senior adviser for economic policy at the Treasury Department under Trump’s first term, emphasized pro-innovation policies during a recent podcast appearance.

"I think financial deregulation is going to be a powerful part of that," Miran shared, adding that crypto could play a pivotal role in driving economic growth under another Trump administration.

Miran’s nomination follows other high-profile pro-crypto appointments. Earlier this month, Trump tapped Paul Atkins, a former SEC commissioner and advocate for digital assets, to replace Gary Gensler as chairman of the Securities and Exchange Commission (SEC). Atkins’ expertise in blockchain through his role with the Digital Chamber’s Token Alliance was highlighted as a key factor.

On Dec. 6, Trump named David Sacks, former PayPal COO, as AI and crypto czar. A staunch Bitcoin supporter, Sacks previously championed the idea of separating money from state, emphasizing Bitcoin’s decentralized and neutral nature during a podcast appearance.

These appointments have sparked optimism about a potential Bitcoin boom, with speculation mounting about the creation of a Bitcoin strategic reserve. Cathie Wood, founder of ARK Invest, predicts Bitcoin could reach $1 million by 2030 under Trump’s pro-crypto policies. Eric Trump echoed this forecast, citing Bitcoin’s scarcity as a major driver of its value.

With Trump’s focus on deregulation and innovation, his administration could usher in a new era of crypto adoption, further fueling bullish sentiment across the industry.