Bitcoin News Today: Bitcoin Surges Past $117,000 as Trump Nominates Crypto-Friendly Stephen Miran to Fed Board

Bitcoin surged past $117,000 following President Donald Trump’s unexpected nomination of Stephen Miran, a crypto-supportive economist, to the Federal Reserve board. The move sent clear signals to the market that the U.S. central bank may adopt a more favorable stance toward cryptocurrencies. Miran, who previously served as Chair of the Council of Economic Advisers, is known for his pro-market and innovation-driven economic policies, including a relatively open attitude toward digital assets. The announcement sparked immediate reactions in the crypto space, with Bitcoin experiencing one of its most significant short-term rebounds in recent months [1].

Miran’s nomination has been widely interpreted as a strategic step to align monetary policy with the evolving financial landscape. His background in economic reform and deregulation suggests that he may advocate for a more hands-off approach to cryptocurrency regulation, potentially influencing the Fed’s stance on digital currencies and blockchain technology. This development has been welcomed by many in the crypto community, who view it as a positive shift in the institutional treatment of digital assets [1].

The timing of the appointment is also noteworthy, as it comes amid a broader reevaluation of financial policies under the Trump administration. Miran’s presence on the Fed board is expected to bring a more business-friendly perspective to the table, particularly in relation to emerging financial technologies. Analysts have speculated that his views may lead to a reassessment of how the central bank interacts with the crypto ecosystem, including the possibility of revisiting earlier regulatory measures that had limited the sector’s growth [1].

While the exact implications of Miran’s role remain to be seen, the market’s immediate response indicates that investors are taking his nomination as a sign of potential regulatory easing. This could pave the way for greater institutional adoption of cryptocurrencies and increased investment in blockchain-based innovations. However, the extent to which the Fed will integrate crypto considerations into its broader policy framework will depend on the broader economic climate and the balance of influence among the board members [1].

Source: [1] Bitcoin Sprints North As President Trump Taps Crypto-Friendly Economist Stephen Miran As New Fed Governor (https://zycrypto.com/bitcoin-sprints-north-as-president-trump-taps-crypto-friendly-economist-stephen-miran-as-new-fed-governor/)