David Sacks, Trump’s crypto czar, is a strong advocate for Solana and an investor in Multicoin Capital. He has discussed Solana’s potential to rival Ethereum and denied any rumors of selling his holdings. His investment history and recent remarks underscore his bullish stance on the cryptocurrency market.
In a notable development, David Sacks, a former PayPal executive and the newly appointed “White House A.I. & Crypto Czar” under Donald Trump, has emerged as a substantial supporter of Solana, a prominent cryptocurrency. As part of his diverse portfolio, Sacks has invested in Multicoin Capital, a firm that emphasizes blockchain technologies, offering indirect exposure to Solana. His insights into crypto and AI amplify his influence in the evolving digital landscape.
On his podcast, Sacks made headlines by revealing his optimism for Solana during the 50th episode of All-In in October 2021, dubbing SOL the “biggest turnaround” by late 2023. Following the FTX collapse, which affected Solana due to its connection, he confidently maintained his SOL holdings, illustrating his steadfast belief in its long-term viability despite market turbulence.
In recent discussions, he addressed rumors of selling SOL after FTX’s downfall, emphasizing a strong annual return of 92%. Sacks asserted, “Let’s just say that those of us who are still holding bags of Solana are very happy campers right now.” His transparent communication reaffirms his commitment to the cryptocurrency’s potential as a long-term investment.
Sacks previously predicted Solana might surpass Ethereum as a leading blockchain platform, stating, “There’s a lot of people… betting on a flipping where Solana could ultimately overtake Ethereum.” He acknowledged SOL’s established position in the market, ranking significantly among cryptocurrency assets, which has only strengthened his bullish outlook.
Sacks’ affiliation with Multicoin Capital, where he invested in 2018, aligns with his belief in the technological innovation within cryptocurrency. The firm, founded in 2017, aims to target promising blockchain ventures, particularly those related to Solana. He noted that the Multicoin team excels at navigating the rapidly evolving tech landscape, further enhancing his trust in their investment judgment.
David Sacks stands out as a key player in the cryptocurrency realm as President-elect Trump’s crypto czar. His unwavering support for Solana and strategic investments through Multicoin Capital showcase his foresight in blockchain technology. Sacks’ confidence in SOL amid market upheavals continues to position him as an influential voice advocating for robust cryptocurrency investment strategies.
Original Source: cointelegraph.com
