In a highly anticipated inaugural address, President Donald Trump did not reference the cryptocurrency sector, disappointing many who had hoped for a nod to digital assets. As Trump took the oath of office for his second term, Bitcoin and other digital currencies were conspicuously absent from his speech.
This omission comes despite growing speculation that the new administration would usher in a more crypto-friendly stance. Many had expected Trump to address Bitcoin or blockchain technology, especially as the market showed heightened interest in these areas. However, the president’s remarks focused predominantly on traditional political topics such as immigration, healthcare, and energy.
The crypto market’s response was swift and telling. Bitcoin, which had soared to a new high of $109,000 earlier in the day, experienced a sharp decline during the speech, dropping below the $102,000 mark.
This reaction underscores the broader sentiment in the crypto community, which had hoped for some clarity on future policies that could shape the industry’s trajectory under Trump’s leadership. A recent report from Aggr on X revealed that the GOP’s upcoming priorities for the term also make no mention of cryptocurrencies, further raising concerns about the digital asset sector’s place in the new administration.
Trump’s history with cryptocurrency has been tumultuous. During his first term, he openly criticized Bitcoin, describing it as “based on thin air” and warning that it could harm the U.S. dollar. However, since leaving office, his actions have painted a different picture. Trump launched an NFT collection, embraced digital assets to fund political campaigns, and even floated the idea of a Bitcoin reserve in the U.S. These moves suggested a potential shift toward more crypto-friendly policies in his second term.
Just days before his inauguration, Trump launched his own TRUMP meme coin, which quickly surged in value. While some viewed this as a sign of his growing interest in the crypto market, others considered it a mere marketing ploy.
Despite these developments, his failure to address cryptocurrency in his inaugural address has left many in the industry questioning his true stance on the matter. As the nation looks ahead to his second term, the future of digital assets under Trump remains uncertain.
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