Mick Mulvaney, the new Chief of White House Staff appointed by President Trump, is a well-known Bitcoin advocate. It will be interesting to see what change he brings to the administration’s approach towards Bitcoin.
In what can be considered a relieving development, the Chief of White House Staff is now a Bitcoin advocate. Mick Mulvaney, the new Acting White House Chief appointed by US President Donald Trump, has been known in the crypto community for his positive stance towards Bitcoin and cryptocurrencies in general. So when he was announced by Trump as new Chief of White House staff, people in US crypto community were quite happy.
Trump announced the appointment of Mulvaney in a tweet sent out yesterday evening. You can see the tweet below:
Mulvaney had first come out with his positive stance towards Bitcoin back in February when he was appointed budget director of President Trump. He has solicited Bitcoin donations for his campaigns, and at a Small Business Committee hearing about Bitcoin he had said:
“I know it isn’t a mainstream issue yet — and may not become one — but it is extraordinarily interesting and something that could eventually influence the dollar and our monetary policy. In fact, one of the witnesses drew favorable comparisons between Bitcoin and Milton Friedman.”
Interestingly, Mr. Mulvaney is also the man who had called President Trump a “terrible human being” at one point in 2016 shortly before the Presidential Elections. He had said:
“Yes, I am supporting Donald Trump, but I’m doing so despite the fact that I think he’s a terrible human being.”
Nevertheless, it’s interesting to see that President Trump, who is known very well for his short-temper, elevated Mick to this prestigious position. Now it will be even more interesting to see if Mick can make up the mind of others in the White House administration to develop friendly regulations for Bitcoin and other cryptocurrencies.