Trump ignores cryptocurrency embellishments on his first day in office
Bitcoin falls to $100,000 as Trump’s Day 1 crypto silence disappoints markets
On his first day in office, President Donald J. Trump made no mention of Bitcoin or crypto, nor did he issue any crypto-related executive orders.
Market speculation had driven Bitcoin to $110,000, but the price plunged to $100,000 following the lack of announcements.
Key Takeaways
- Bitcoin Volatility: BTC briefly surged to $110,000 before falling to $100,000 after Trump’s inaugural address omitted crypto mentions.
- Speculation on Policies: Industry leaders expect executive orders on digital assets, including bank regulations and pardoning Ross Ulbricht, in the coming days.
- Strategic Reserve Delay: Trump’s promised Strategic Bitcoin Reserve remains unaddressed, though speculation about discreet BTC accumulation persists.- WLFI Purchases: World Liberty Finance made inaugural digital asset purchases, acquiring $47 million each of ETH and WBTC.
Bitcoin and crypto excluded from Trump’s Day 1 agenda
President Trump’s inaugural address omitted any mention of Bitcoin or crypto policies, despite speculation driven by campaign promises of a Strategic Bitcoin Reserve. This omission caused Bitcoin’s price to plunge from $110,000 to $100,000, reflecting market disappointment.
BTC price dynamics. Source: coinmarketcap.com
Industry observers, however, stress patience. Miles Deutscher and Will Clemente III noted that crypto-friendly regulations may still emerge in the coming days. Circle CEO Jeremy Allaire anticipates an executive order enabling banks to hold digital assets by repealing restrictive SEC guidelines.
Speculation grows around executive actions
Rumors about the pardon of Ross Ulbricht gained traction following Elon Musk’s cryptic comment, “Ross will be freed too.” Analysts like Byzantine General believe Trump may announce significant crypto-related measures later in the week.
James Seyffart, a Bloomberg ETF expert, pointed to inaugural crypto purchases by World Liberty Finance as a potential signal. The firm bought $47 million each of ETH and WBTC, alongside smaller allocations of Aave, Chainlink, TRX, and ENA, possibly hinting at strategic accumulation.
Long-term strategy for Bitcoin reserves?
Speculation around Trump’s Strategic Bitcoin Reserve continues. Felix Jauvin suggested that the U.S. Treasury’s Exchange Stabilization Fund could facilitate discreet BTC accumulation, allowing strategic purchases without immediate public disclosure.
BTC Inc. CEO David Bailey added intrigue, stating that executive orders related to Bitcoin or crypto are likely among the administration’s early actions, signaling that announcements could still be forthcoming.
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Recently we wrote, that billionaire entrepreneur Mark Cuban is considering the launch of his own meme coin, drawing inspiration from the success of TRUMP coin and other meme-based cryptocurrencies like Dogecoin and Shiba Inu.
