President-elect Donald Trump is preparing for his inauguration on January 20th. It is being reported that during the inaugural Crypto Ball on January 17th, a VIP reception will be hosted by Trump’s super PAC, MAGA Inc., featuring AI & Crypto Czar David Sacks. Despite the high-profile event, Trump himself will not be in attendance.
Exclusive tickets for the VIP reception are priced at $100,000 each, or attendees can purchase a $1 million package for four tickets, which includes access to a private dinner with President Trump at a later date.
As part of the build-up to Trump’s inauguration, crypto industry leaders are seeking to strengthen their influence within the new administration. The stablecoin company Circle made a $1 million contribution to the inaugural committee using USDC.
Crypto leaders are also vying for positions on Trump’s planned crypto advisory council, which could include up to 22 CEOs and founders. David Sacks, an early investor in Bitcoin, has been tapped to become the White House’s Chief Technology Officer and crypto czar. As inauguration day approaches, crypto executives will continue to gather in Washington.
Will Bitcoin Price Rally?
Bitcoin is currently trading below $94k, signaling a mixed start to the year for the cryptocurrency market. After a shaky beginning, experts suggest the market may experience a rollercoaster ride through the first quarter.
While Bitcoin and other cryptocurrencies experienced a post-election rally, some concerns about Trump’s crypto policy are emerging. On one hand, Trump’s promises could help crypto companies grow, but the potential for regulatory changes introduces a layer of uncertainty. These developments could cause Bitcoin prices to fluctuate, creating an unpredictable environment for crypto investors.
However, long-term prospects for the crypto market are still strong, according to market insiders. Meanwhile, lawmakers are expected to address important issues like stablecoins and market structure as the year progresses.
