David Sacks was recently appointed by President-elect Trump as his top AI and cryptocurrency advisor. The new "Crypto Czar” is not only pro-crypto, and a seasoned technologist, but has also hailed Bitcoin (BTC) as a potential way to separate money and state.
Speaking to Anthony Pompliano, the former PayPal executive and tech founder praised Bitcoin for its ability to hedge against fiat inflation and its censorship-resistant properties. Sacks told Pompliano, "The Church and state used to be intrinsically linked and combined. You couldn't think about the two without them being together.” Sacks continued:
“Now, we think about them being separate. I think money and state are kind of like that. We can't really think of money without the state, but Bitcoin, it's sort of this sci-fi future where you could maybe have these two things decoupled."
The appointment of Sacks as a top advisor to Donald Trump is widely seen as an extremely positive development for the crypto industry due to his outspoken support and was celebrated by industry executives on social media.
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The appointment of pro-crypto technologist David Sacks
Trump announced the appointment of David Sacks as "AI and Crypto Czar" on Dec. 5 — promising that the incoming advisor would help establish a clear regulatory framework for digital assets.
Source: Donald Trump
Sacks is known as a major investor in Solana (SOL) and revealed that he continued to hold his SOL position following the collapse of FTX in November 2022.
The incoming Crypto Czar also backs crypto investment firm Multicoin Capital and previously predicted that SOL would flip Ethereum (ETH) in terms of market capitalization and usage. During a 2021 appearance on the All In podcast, Sacks told the audience:
“There’s a lot of people, I’d say, smart money in Silicon Valley, who are betting on a flipping where Solana could ultimately overtake Ethereum as the preferred platform.”
Sacks' appointment follows the nomination of pro-crypto hedge fund manager Scott Bessent as Treasury Secretary. Bessent previously characterized crypto as a form of freedom and told the media that "The crypto economy is here to stay."
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