Bitcoin Nears $117K After Trump Nominates Bitcoin-Friendly Economist Stephen Miran to Fed Board

Benzinga

Bitcoin rebounded to near $117,500 following President Trump’s surprise nomination of economist Stephen Miran to the Federal Reserve Board, according to Decrypt. Miran chairs the Council of Economic Advisors and has publicly supported Bitcoin and would fill the seat vacated by Adriana Kugler and serve through January 2026. Trump described Miran’s economic expertise as unparalleled and said he served with distinction during the 2016 administration. Amberdata’s Greg Magadini described Miran as “dovish” and warned that loss of Fed independence could mirror the inflationary 1970s. He cited rising gold prices, weak Treasury auctions, and above-target inflation as signs of market concern. Magadini said Bitcoin could benefit from inflation fears, despite the crypto market’s smaller size compared to traditional assets.

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00:00It's Benzinga, bringing Wall Street to Main Street.

00:02Bitcoin rebounded to near $117,500,

00:05starring President Trump's surprise nomination of economist Stephen Myron

00:08to the Federal Reserve Board, according to Decrypt.

00:11Myron chairs the Council of Economic Advisors and has publicly supported Bitcoin

00:14and would fill the seat vacated by Adriana Kugler and served through January 2026.

00:20Trump described Myron's economic expertise as unparalleled,

00:23said he served with distinction during the 2016 administration.

00:26Aberdatus Greg Magadini described Myron as dovish.

00:29He warned that loss of Fed independence could mirror the inflationary 1970s,

00:33setting rising gold prices, weak treasury auctions,

00:36and above-target inflation as signs of market concern.

00:40Magadini said Bitcoin could benefit from inflation fares

00:42despite the crypto market's smaller size compared to traditional assets.

00:46For all things money, visit Benzinga.com.

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