President Donald Trump has officially taken office and delivered his inaugural speech, but notably absent from his address was any mention of Bitcoin (BTC) or cryptocurrencies. This lack of acknowledgement has left many in the crypto community wondering about the future of digital assets under the new administration.
In a document outlining the White House’s priorities sent by Republicans, there was also a noticeable absence of any reference to digital assets or Bitcoin. This document did not align with Trump’s previous statements about the crypto industry, such as the creation of a Bitcoin reserve to combat inflation and promoting BTC mining within the United States. Additionally, there was no mention of implementing policies through Executive Orders, which Trump had previously indicated he would do to prioritize the crypto industry.
Instead, Trump’s focus seems to be on other pressing issues such as border security, energy independence, government reform, and cultural matters. While these priorities may indirectly impact the tech sector, including digital assets, the lack of explicit mention of crypto in the document has raised concerns among enthusiasts.
Despite the absence of crypto in Trump’s recent speeches and documents, the crypto community can take some comfort in his nominations for key positions. The new SEC chair, Paul Atkins, is known to be innovation-friendly and has been involved with the Digital Chamber’s Token Alliance. Additionally, Trump has appointed David Sacks, a former PayPal COO and tech venture capitalist, as the “crypto czar” in the White House to focus on regulatory frameworks for the industry.
Furthermore, reports have indicated that pro-crypto figures are in the running for the new Commodity Futures Trading Commission (CFTC) chair position, suggesting a positive stance towards digital assets within the administration. On top of that, on-chain data has shown that a Trump family-backed money market recently purchased a significant amount of Bitcoin, indicating potential support for the industry.
While Trump’s inaugural speech and official documents may have overlooked the crypto industry, his nominations and actions behind the scenes suggest a more favorable stance towards digital assets. It remains to be seen how these developments will shape the future of cryptocurrencies under the new administration.