President Trump nominates pro-Bitcoin Steve Miran to lead his Council of Economic Advisers

Source Cryptopolitan

Donald Trump has picked Steve Miran, a former senior economic adviser at his 2016 Treasury Department, to lead his Council of Economic Advisers.

Miran, known for his sharp opinions on Bitcoin and monetary policy, now steps into a position that will shape Trump’s ambitious second-term economic strategy.

Trump announced the nomination on Truth Social, saying, “Steve will work with the rest of my economic team to deliver a great economic boom that lifts up all Americans.”

Miran, responding on X, said:

“I am beyond honored that President Trump has chosen me to lead his Council of Economic Advisers.  I look forward to working to help implement the President’s policy agenda to create a booming, noninflationary economy that brings prosperity to all Americans!”

Economic plans loaded with controversy

As head of the Council, Miran will be Trump’s go-to figure for economic policy decisions, a critical role given the president’s plans to tackle inflation, renew tax cuts, and launch a wave of protectionist tariffs.

Trump claims these will restore manufacturing jobs and boost household incomes, a promise he doubled down on during his campaign.

Economic concerns like inflation and stagnant wages helped Trump secure his second term and a Republican majority in Congress. But economists have flagged potential risks in his agenda.

Some believe deporting undocumented immigrants and imposing tariffs could drive up consumer prices and inflate the national debt. Trump, unfazed, has brushed off these warnings, maintaining his focus on economic growth and price stability.

Bitcoin and Miran: A love-hate relationship?

While he’s not a die-hard Bitcoin maximalist, Miran’s public commentary on the asset has been enough to grab the community’s attention. Cryptopolitan ran a quick search of the word “bitcoin” on his Twitter and the results show a nuanced—if a bit skeptical—take on the role of crypto in the economy.

In March 2023, Miran replied to Cathie Wood’s suggestion that Bitcoin could act as a “flight to safety” during Federal Reserve rate hikes. “Wait, is she saying Bitcoin moving higher is a reason for the Fed NOT to hike rates?” he asked, hinting at skepticism over Bitcoin’s supposed safe-haven status.

His more pointed critique came earlier this year when he called out crypto’s contribution to inflation. Miran claimed “I profoundly believe the income/wealth effects on labor force supply due to the crypto/memestock phenomena were nontrivial drivers of inflation. If the Fed cuts into this nonsense, they’ll re-emerge.”

His acknowledgment of crypto’s macroeconomic impact, while not overly enthusiastic, shows he’s at least been paying attention. But Miran has also admitted gaps in his crypto expertise.

In a discussion about Bitcoin’s $1 trillion growth from late 2023 to early 2024, he agreed it likely added to inflation but hesitated to quantify its overall impact. He also pointed out that a huge amount of Bitcoin is lost or inaccessible—“sunk on the ocean floor or stuffed in a mattress,” as he put it.

A Step-By-Step System To Launching Your Web3 Career and Landing High-Paying Crypto Jobs in 90 Days.

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
The $589 XRP Dream: Believers Aren’t ‘Delusional’ Enough, Expert SaysA known market analyst sees the $6 per coin prediction for XRP crypto being claimed by some experts as too conservative.
Author  NewsBTC
Dec 17, Tue
A known market analyst sees the $6 per coin prediction for XRP crypto being claimed by some experts as too conservative.
placeholder
Nvidia vs. Broadcom: Which Is the Better AI Chip Stock to Own in 2025?When it came to artificial intelligence (AI) infrastructure in 2024, Nvidia (NASDAQ: NVDA) reigned supreme.
Author  The Motley Fool
Dec 19, Thu
When it came to artificial intelligence (AI) infrastructure in 2024, Nvidia (NASDAQ: NVDA) reigned supreme.
placeholder
Crude Oil set for weekly loss as Fed cuts off any rally attemptOil prices saw recovery attempts fail and edges lower for the fifth consecutive day on Friday.
Author  FXStreet
Dec 20, Fri
Oil prices saw recovery attempts fail and edges lower for the fifth consecutive day on Friday.
placeholder
Solana whale sbfonchain.sol is back to buying the hottest meme tokensOne of the most widely watched meme token traders, sbfonchain.sol, is back to buying.
Author  Cryptopolitan
Dec 20, Fri
One of the most widely watched meme token traders, sbfonchain.sol, is back to buying.
placeholder
US Dollar hits fresh two-year high ahead of PCE inflationThe US Dollar (USD) retreats slightly on Friday, with the DXY Index trading at around 108.20 after eking out another fresh two-year high of 108.55 during the Asian-Pacific trading session. The move was supported by rising US Treasury yields, widening
Author  FXStreet
Dec 20, Fri
The US Dollar (USD) retreats slightly on Friday, with the DXY Index trading at around 108.20 after eking out another fresh two-year high of 108.55 during the Asian-Pacific trading session. The move was supported by rising US Treasury yields, widening
goTop
quote