Key Points:
- Newly inaugurated President Donald Trump did not mention Bitcoin or any cryptocurrencies during his inaugural speech.
- As Trump spoke, Bitcoin’s price fell, but it still holds above $100,000.
- Trump’s administration appears to pivot towards a more crypto-friendly environment compared to his predecessor.
A proposed U.S. strategic bitcoin reserve faces postponement as President Donald Trump omitted the topic from his inauguration remarks on Monday.
In a report reflecting Republican congressional priorities, there was a notable absence of mentions regarding Bitcoin or cryptocurrencies.
Bitcoin has experienced significant volatility in past days, experiencing a drop in price during the inauguration speech, currently hovering around the $100,000 mark, down from a high of above $109,000 earlier.
In contrast to the previous administration’s strict scrutiny of the crypto industry, Trump seems serious about adopting policies that might recognize transformational technologies.
Previously, Trump appointed venture capitalist and former PayPal CEO David Sacks to the role of A.I. & Crypto Czar and nominated crypto advocate Paul Atkins to head the SEC.
However, Trump’s crypto approach hasn’t been flawless; he stirred controversy by launching a memecoin shortly before the inauguration, sparking criticism from some, including crypto investor Nic Carter who expressed frustrations regarding the move, calling it “absolutely preposterous” and indicative of poor judgment.
A recent check on Polymarket shows that betting odds for a strategic bitcoin reserve being created within the first 100 days of Trump’s administration have decreased from 60% to 45%.
