- Trump’s inauguration speech didn’t mention a U.S. strategic bitcoin reserve, disappointing crypto advocates.
- Bitcoin’s price fell from $109,000 to near $100,000 amid uncertainty over the administration’s crypto agenda.
- Polymarket odds of a bitcoin reserve in Trump’s first 100 days dropped to 45% after earlier reaching 60%.
President Donald Trump’s inauguration speech on Monday left some crypto enthusiasts disappointed as he made no mention of a potential U.S. strategic bitcoin reserve. This omission, coupled with a report of GOP congressional priorities that excluded any reference to bitcoin or cryptocurrency, dampened hopes for immediate action.
Bitcoin’s Rollercoaster Continues
The price of bitcoin, which has been wildly volatile in recent days, dipped during Trump’s speech. After peaking above $109,000 overnight, it slid to test the $100,000 level, reflecting market uncertainty about the administration’s crypto agenda. While Trump has promised policies embracing transformative technologies like crypto, concrete steps are yet to materialize.
Trump’s Crypto Moves So Far
Prior to his inauguration, Trump appointed venture capitalist and former PayPal COO David Sacks as the “A.I. & Crypto Czar” and nominated crypto advocate Paul Atkins to lead the SEC. These appointments signal a potential shift toward pro-crypto policies. However, Trump’s launch of his Trump memecoin and Melania’s follow-up with her own token over the weekend have drawn criticism, even from supporters like Nic Carter of Castle Island Ventures, who called the move “plumbing new depths of idiocy.”
Strategic Bitcoin Reserve Odds Slip
Speculation about a U.S. bitcoin reserve under Trump has cooled. Polymarket betting odds of the reserve being established within his first 100 days have dropped to 45%, down from 60% earlier in the day. While Trump’s crypto-friendly rhetoric is promising to some, his administration’s immediate priorities remain unclear, leaving the crypto community waiting for decisive action.
