He is expected to sign executive orders to elevate crypto to a national policy priority and form a Presidential Council of Advisers for Digital Assets.

Bitcoin retreated from a record high on Monday as Donald Trump was sworn in as 47th president of the United States, his second presidential term, following a weekend during which his own newly-launched digital token rattled crypto markets.

"The reign of terror against crypto is over, and the beginning of innovation in America for crypto has just begun," Sacks said, speaking on Friday at the so-called crypto ball event, intended to drive support for Trump among the crypto community and demonstrate its value to the incoming administration.