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White House Team Is Monitoring Cryptocurrencies, Says Press Secretary
The Trump administration has said it is keeping an eye on cryptocurrencies like bitcoin in the wake of its recent explosive price jumps.
Updated Dec 10, 2022, 9:19 p.m. Published Dec 1, 2017, 8:30 a.m.
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The Trump administration has said it is keeping an eye on cryptocurrencies like bitcoin in the wake of its recent explosive price jumps.
White House press secretary Sarah Sanders said during a press briefing sessionhttps://www.whitehouse.gov/the-press-office/2017/11/30/press-briefing-press-secretary-sarah-sanders-and-acting-secretary-health on Thursday that bitcoin and other cryptocurrencies are "something that is being monitored by our team."
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In response to a reporter's question on whether the U.S. government is planning for cryptocurrency regulations, Sanders mentioned that there is no specific announcement on the topic right now. She added that the topic had been brought up in a meeting earlier this week by Tom Bossert, a member of the Homeland Security team.
She continued:
"I know it's something that he's keeping an eye on. And we'll keep you posted when we have anything further on it."
The comments follow remarks by the White House to CoinDesk earlier this year, in which representatives revealed they are exploring blockchain technology as a way to improve U.S. government operations.
Comments made in March by Mark Calabria, chief economist to Vice President Mike Pence, indicated at the time that there is enthusiasm within the Trump White House toward blockchain, hinting that progress toward adoption could be seen in the coming years.
Sarah Sanders image via Shutterstock
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Small investors are buying bitcoin. For a rally to succeed, the whales need to join in.
Small wallets have increased their BTC holdings by 2.5% since October's all-time high while large holders trimmed 0.8%, Santiment data shows.
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- Bitcoin wallets holding less than 0.1 BTC have increased their share of supply to the highest since mid-2024 even as the price holds around the mid-$60,000s.
- Larger holders with 10 to 10,000 bitcoins — the whales and sharks that typically drive major moves — have reduced their positions since the October peak.
- The divergence supports choppy, fragile price action because retail demand alone cannot sustain rallies when big wallets are distributing into every recovery.
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