Trump's sweeping of the House and the Senate is already a thing of the past, and the global financial markets are now turning their attention to Trump's cabinet formation process, which will be crucial in shaping next year's markets.

Overnight, it was rumored that veteran financial regulatory official and prominent conservative financial figure Paul Atkins is a popular candidate to become the SEC chairman, notable for being a strong supporter of digital assets and fintech companies.

Stimulated by this news, $Bitcoin (BTC.CC)$ resumed its upward trend, briefly surpassing the $97,000 mark again, while $Ethereum (ETH.CC)$ came close to $3,700 at its peak.

With the main team of Trump's cabinet 2.0 gradually taking shape, based on the series of nominations currently announced, many nominees are likely to have a positive impact on the cryptocurrency industry.

• 特朗普：致力于将美国打造为“地球加密货币之都”，持有约7.6 million美元加密货币

在赢得2024年美国大选前，特朗普曾明确承诺将推动亲加密货币的政策立场。

据Arkham数据，特朗普目前持有7.6 million美元的加密货币，其持仓前五包括：TROG（约1.92 million美元）、 $Ethereum (ETH.CC)$ （约1.78 million美元）、WETH（约1.72 million美元）、TRUMP（约1 million美元）、GUA（约0.36 million美元）。

• 副总统JD Vance ：持仓数十万美元比特币，力挺加密货币

JD Vance一直是加密货币的坚定支持者。2022年，在担任俄亥俄州联邦参议员之时，Vance主张在数字资产监管上采取更为宽松的政策。2023年，Vance还提出了一项法案，旨在保护加密货币公司免受银行的监管压力，主张更多的政治中立监督。

根据2024年8月13日递交给美国国会的文件显示，Vance披露持有价值最高0.1 million至0.25 million美元的比特币。

PreviouslyDeputy Trump's deputy Pence's holdings exposed! Heavy holdings in US stock index ETFs, betting on Bitcoin and gold. It was also mentioned in the article that among Vance8's major holdings, Bitcoin ETF is one of the positions. $Fidelity Wise Origin Bitcoin Fund (FBTC.US)$ It is one of the holdings.

• Treasury Secretary Scott Bessent: publicly supporting Bitcoin and the crypto economy.

Scott Bessent, Trump's nominated Treasury Secretary, is known for his support of cryptos. In an interview, he stated:

I am very excited about (Trump) embracing cryptos, I believe this aligns very well with the spirit of the Republican Party. Cryptos represent freedom, and the crypto economy will exist for a long time.

However, there is no public record of holding positions in cryptos.

• Commerce Secretary Howard Lutnick: holds hundreds of millions of dollars in bitcoin, providing custody services for Tether for many years.

Howard Lutnick, the nominee for Secretary of Commerce appointed by Trump, is a super fan of bitcoin. At the 2024 Bitcoin Conference, he stated:

Bitcoin and gold are the same. Bitcoin should be traded the same way as gold - globally, without exception.

In a recent interview with Anthony Pompliano, the founder of Professional Capital Management, Lutnick revealed: 'I own hundreds of millions of dollars' worth of bitcoin, and I expect this number to reach into the billions very soon.'

• National Security Advisor Michael Waltz: holds less than 0.1 million dollars in bitcoin, advocating for crypto-supportive policies.

Michael Waltz has been advocating for policies favorable to cryptos, having made several important statements on cryptos, including voting in support of the Extremely Cryptos Act FIT21 and voting in support of the Cryptos Act House Joint Resolution SAB 121.

According to last year's filing records, in 2023 Waltz held between 0.05 million and 0.1 million dollars in bitcoin.

• National Intelligence Director Tulsi Gabbard: Holds small amounts of litecoin and ethereum, opposes government efforts to promote CBDC.

Nominated National Intelligence Director Tulsi Gabbard believes that the government's efforts to promote Central Bank Digital Currencies (CBDC) are a broader move to strengthen control over the people, undermining the decentralized nature of cryptocurrencies like bitcoin.

He also disclosed that in the second half of 2017, he held litecoin and ethereum worth between $1,000 and $150,000 and between $1,000 and $150,000, respectively.

• Health and Human Services Secretary Robert Kennedy Jr: Most of his wealth is invested in bitcoin.

Nominated Health and Human Services Secretary Robert F. Kennedy Jr is also a prominent supporter of bitcoin. He stated in November: "I am a staunch supporter of bitcoin, having attended another bitcoin conference a year ago. Most of my wealth is in bitcoin, so I am fully committed to it."

However, there is no public disclosure of the congressman's cryptocurrency holdings.

In addition, Pete Hegseth, who is set to be nominated as the US Secretary of Defense by Trump, has also expressed a commitment to the decentralized value of bitcoin and pledged not to sell bitcoin.

In addition to cabinet members, Elon Musk, who is expected to lead the "Department of Government Efficiency," is a strong supporter of the cryptocurrency market. As of November 21st, Arkham statistics show that Tesla holds 11,509 BTC, worth approximately $1.11 billion, while Musk personally "still holds a large amount of dogecoin."

Is bitcoin 0.1 million close at hand? How do institutions view it?

In light of the strong uptrend in bitcoin since the USA election, institution QCP Capital believes that the target price of $0.1 to $0.12 million may not be far-fetched. The potential strength of BTC represents a systemic shift in market expectations should Trump return to the White House. His initiation of a strategic BTC reserve and the idea of shifting from gold to BTC provide a strong call perspective to maintain BTC price support.

Maruf Yusupov, Co-Founder of Deenar, suggests that rapid rise of bitcoin following Trump's victory in the USA election may be reshaping traditional views on inflation hedging. Trump's attention to tax cuts, tariffs, and cryptocurrencies is driving interest in bitcoin as a modern alternative to gold. With institutional adoption accelerating, a significant capital shift from gold to digital assets may be observed.

Director of B2C2, Nikolay Karpenko, stated,

The recent dip in bitcoin earlier this week was partly due to profit-taking as BTC approached a historic milestone. This was tactical, and bitcoin is likely to break $0.1 million soon.

Head of Research at Galaxy Digital, Alex Thorn, wrote in a note to clients,

Once some leverage is washed out and short-term buyers take profits, we believe bitcoin may find a strong support base and could attempt to break the $0.1 million level again in the short term.

Editor/Somer