Donald Trump’s Top Treasury Pick: Pro-Crypto, Pro-Bitcoin Scott Bessent

The speculation around who is going to be Donald Trump’s choice for SEC Chair has been going on for some time now. Amidst this, rumors have it that Trump’s choice for Treasury is no one other than the hedge fund investor Scott Bessent who is very pro-crypto, and particularly pro-Bitcoin.

FOX news journalist Eleanor Terrett, recently revealed that Trump’s preferred choice for Treasury Secretary is billionaire hedge fund investor Scott Bessent who is very pro-crypto, particularly pro-Bitcoin. 

Trump’s leading pick for Treasury Secretary — billionaire hedge fund investor Scott Bessent — is very pro-crypto, particularly pro-Bitcoin.

Some recent statements:

“I have been excited about the president’s embrace of crypto and I think it fits very well with the Republican…

— Eleanor Terrett (@EleanorTerrett) November 12, 2024

Terrett revealed that Scott Bessent has apparently appreciated Trump’s embrace of crypto as it represents financial freedom for everyone, and is very much here to stay. 

Scott said, “I think everything is on the table with Bitcoin. One of the most exciting things about Bitcoin is that it brings in young people and those who have not participated in markets before. Cultivating a market culture in the US, where people believe in a system that works for them, is the centerpiece of capitalism.”

In a recent interview with CNBC, Bessent had spoken on tax cuts, tariffs, and deregulation. Bessent  noted that Trump’s proposals, like tax cuts and a Bitcoin reserve, aim to support growth without worsening inflation, differentiating his policies from the prior administration. He also shared that Trump’s deregulation and energy price reduction plans can potentially reduce inflationary pressures. 

Bessent had previously served as the Chief Investment Officer at Soros Fund Management, overseeing billions in assets. In 2015, he founded his own firm, Key Square Group, focusing on global macroeconomic investment strategies. Apart from Scott Bessent, John Paulson’s name is also being floated as one of the top picks for the role.

While the SEC chair plays a key role in crypto regulations, having pro-crypto leaders at the CFTC and Treasury would be just as crucial for the crypto industry.

So far, Trump has announced former Immigration Customs Enforcement director Tom Homan as the “border czar”; New York Rep. Elise Stefanik was selected as Trump’s nominee for ambassador to the United Nations; and Susie Wiles was named the first woman ever appointed to the Chief of Staff role.

Also Read: ASA Asks Gary Gensler To Step Down as the SEC Chair