There are still expectations that he will issue executive orders that will impact the crypto market in the early days of his administration.

Donald J. Trump took office as US president, but left investors disappointed by not mentioning Bitcoin or other cryptocurrencies in his inaugural address.

Trump focused his inaugural address on key campaign themes such as illegal immigration, free speech, and criticism of the Biden administration. The crypto community expected Bitcoin to be mentioned, but the topic was not mentioned. President Trump’s “America First Priorities” document also ignored cryptocurrencies.

However, Donald Trump’s appointments indicate a pro-crypto stance. The new SEC chairman, Paulo Atkins, is known for championing innovation and has been co-chair of the Digital Chamber’s Token Alliance since 2017. In addition, the US administration has created the position of “crypto czar” in the White House, with David Sacosantigo, former CEO of PayPal, to create a regulatory framework for the industry.

Other nominations also suggest a positive approach:

- Current CFTC Commissioner Summer Mersinger and former CFTC Commissioner Brian Quintenz are both in the running to lead the CFTC.

- Caroline Pham, an advocate of regulation to promote growth, has been named acting chair of the CFTC.

Cryptocurrency Investments

Trump family-backed World Liberty Financial purchased $47 million worth of Bitcoin today, reinforcing the positive trend.

These moves indicate that despite not mentioning encryption in his inaugural address, Trump is taking significant steps to support the industry.

Bitcoin’s price fell following Trump’s inauguration speech, despite hitting a new all-time high of $108,786 earlier in the day. As a result, Bitcoin saw a 2% drop by 4:30 PM ET, closing at $103,100. Other cryptocurrencies also fell, with Ethereum (-2.7%), Solana (-9.4%) and Dogecoin (-9.2%) leading the losses.

There are still expectations that Trump will issue executive orders focused on the crypto market in his first days in office. The most important one would be the implementation of a strategic Bitcoin reserve. Other possible actions include:

- Crypto Council: Creation of a council made up of CEOs of companies in the sector to advise on public policies.

- Repeal of SAB Guidance 121: Elimination of the SEC requirement that cryptocurrency custodians classify custodied assets as liabilities on their balance sheets.

These measures could significantly impact the crypto market in the US and worldwide. Those who live will see…