Biden’s administration rehires crypto advisor as Trump ramps up pro-Bitcoin efforts

Biden administration crypto policy co-author Carole House has confirmed that she is returning to the White House. The news comes as Donald Trump attempts to speak at the Bitcoin 2024 conference scheduled for July in Nashville, US, amidst his pro-crypto moves over the recent days.

Also Read: Meme coins volatility peaks as US presidential debate looms

Amid the election buzz, political meme coins are also rampant as Bitcoin takes center stage before November.

Is Biden trying to appease Bitcoin investors?

In a recent post on LinkedIn, House confirmed that she will serve as the Special Advisor for Cybersecurity and Critical Infrastructure Policy at the White House National Security Council.

She noted, “Honored to have been called to return to service of absolutely critical mission sets that are necessary to shape the future of secure and trustworthy digital economies.”

House was previously the Director of Cybersecurity and Secure Digital Innovation at the White House National Security Council between April 2021 to June 2022. Interestingly, she was a co-author of President Joe Biden’s “Executive Order on Ensuring Responsible Development of Digital Assets.”

Also Read: Crypto advocates boost Trump donations as ‘Stand With Crypto’ campaign gains momentum

Her returning into a role crucial for crypto policy-making could mean that Biden might be attempting to win over Bitcoin investors from his Republican rival Donald Trump. SkyBridge Capital’s Anthony Scaramucci, a crypto proponent, previously revealed that President Biden might soften his stance towards crypto.

Trump has accelerated Bitcoin community involvement

Most people in the crypto community also see Donald Trump as a pro-sector candidate.

Meanwhile, crypto betting website, Polymarket, is hosting a prediction bet for the 2024 US Presidential Election. The users are putting their money on who they believe will win the popular vote.

Interestingly, at the time of writing, Joe Biden stands a chance of 56% while Trump is at 36%. The total betting amount placed on Biden is close to $5.5 million, with Trump at $3.3 million.

Amid these election trends, reports anticipate that Trump is in talks with the 2024 Bitcoin Conference organizers to speak at the event in July.

Also Read: Former President Donald Trump could deliver speech at major Bitcoin Conference in July

Trump is also dominating the meme coin market in the run-up to the elections. After TrumpCoin DJT registered a price rise of almost 35% in 24 hours, MAGA TRUMP is up over 20%. According to CoinGecko, the Jeo Boden BODEN meme coin also pumped close to 40% in a day on June 25.

However, Bloomberg cited Bernstein analysts in its report that suggest crypto is becoming a major theme, or “Trump Trade,” this election season. The analysts noted that the Republican Party is led by more pro-crypto members and is seeing support from the crypto industry.

“I will end Joe Biden’s war on crypto. We will ensure that the future of crypto and the future of bitcoin will be made in America.”

Love it. pic.twitter.com/TGP2PPpM0O

— Vivek Ramaswamy (@VivekGRamaswamy) June 18, 2024

This has not only attracted voters but also campaign funding from pro-crypto political action committees (super PACs) as per the analysts.

Cryptopolitan reporting by Shraddha Sharma