Despite his strong vocal support for crypto during his campaign, US President Donald Trump did not mention crypto during his inauguration speech on Monday, January 20, 2025.
Following the end of his speech, Bitcoin (BTC), which hit an all-time high (ATH) of $109,114 earlier that day, fell sharply by over 5%. When this report was filed, the original cryptocurrency traded at $102,300, a 5.35% decline in the past 24 hours.
No Crypto Mention
Many expected Trump to mention crypto during his inauguration speech, as he had vocally supported the industry during his campaign.
“There’s no nation like our nation. Americans are explorers, builders, innovators, entrepreneurs, and pioneers. The spirit of the frontier is written into our hearts,” Trump said during his inauguration speech.” He concluded, “God bless America.”
Many in the crypto community felt disappointed, as they expected him to at least say something about crypto. In fact, Republican congressional priorities didn’t include crypto.
What to Expect
This means a Bitcoin reserve will have to wait, among other crypto policies Trump promised to execute during his campaign.
Earlier this month, Reuters reported that the crypto industry is pushing Trump’s team to issue a crypto-related executive order during his first 100 days in office and expects that at least one would come during his first day.
Among other crypto-related promises, Trump vowed to be the “crypto president,” implement a strategic Bitcoin reserve, end Joe Biden’s terror in the sector, commute Ross Ulbricht’s life sentence, and fire Gary Gensler on his first day in office during his campaigns. Gensler has already stepped down by himself on Trump’s inauguration day.
While many felt disappointed, MacroScope stated that no one should be surprised that crypto wasn’t mentioned because it is not an appropriate topic for the event.
Lots of younger people/traders in BTC, so having seen every inauguration since the 1970s, I’ll say this: No one should be surprised BTC wasn’t mentioned. Not an appropriate topic for that speech, to say the least.
There will be more than enough headlines about it in coming days…
— MacroScope (@MacroScope17) January 20, 2025