Is the appointment of Waller a 'disaster' or a 'long-term adjustment'?
If Kevin Waller is ultimately nominated, the situation is more complicated than it seems, and not all bad news.
Short-term pain (negative): Waller is known as an executor of 'monetary discipline.' He tends to maintain high interest rates and even raise them when inflation rebounds. This will directly withdraw liquidity from the crypto market, leading to liquidations of leveraged positions and price declines.
Long-term subtlety (neutral/positive): Although he is a hawk, he recognizes Bitcoin as a 'store of value similar to gold.' At the same time, the overall agenda of the Trump administration is to promote regulatory loosening (such as pushing for spot leverage trading and clarifying regulatory boundaries). This means that even if monetary policy tightens, the positive aspects on the regulatory side (such as ETF approvals and clear laws) may offset some of the negative impacts of monetary policy.
Institutional Appointment: The Potential Impact of BlackRock Executives
Another noteworthy dark horse candidate is BlackRock executive Rick Rieder.
Absolutely positive: He personally holds Bitcoin, publicly calling it 'the gold of the 21st century,' and believes it should be included in institutional portfolios.
If he takes office, it will directly open the channel between traditional financial giants and the Federal Reserve, greatly accelerating the entry of trillion-dollar pensions and institutional funds into the Bitcoin and Ethereum markets.