United States of America President-elect Donald Trump has appointed a former PayPal Chief Operating Officer, David O. Sacks, as “White House” Artificial intelligence and crypto czar.

On Thursday, Mr Trump in a post on Truth Social announced that Mr Sacks would coordinate his administration’s policy on AI and cryptocurrency.

Mr Trump said, “David will guide policy for the Administration in Artificial Intelligence and Cryptocurrency, two areas critical to the future of American competitiveness.’’

Mr Trump said Mr Sacks “will focus on making America the clear global leader in both areas. He will safeguard Free Speech online, and steer us away from Big Tech bias and censorship. He will work on a legal framework so the Crypto industry has the clarity it has been asking for, and can thrive in the U.S. David will also lead the Presidential Council of Advisors for Science and Technology.”

This appointment is on the heels of Mr Trump’s move toward fulfilling his campaign promise to create a strategic reserve and make the U.S. the “crypto capital of the planet.”

Crypto market has continued a post-election bull run, gaining more momentum ahead of Mr Trump’s inauguration scheduled for January 2025.

Bitcoin soared to a new all-time high of nearly $104,000 late Wednesday night, crossing the $100,000 mark for the first time in 16 years.

It made a whopping 7.62 per cent increase in just 24 hours, hitting $103,900 before settling slightly lower, just over $103,100.

Since Mr Trump’s emergence as president-elect, Bitcoin has seen a 36 per cent increase in value, valued at approximately $75,600. 

Experts have linked the prevailing bullish crypto market atmosphere to Mr Trump’s victory and his friendly campaign about the currency.