On January 20, US President Donald Trump outlined his administration’s key “America First Initiatives,” but the list notably lacked any mention of cryptocurrencies or a strategic Bitcoin reserve.
The White House briefing highlighted priorities such as enhancing public safety, reducing costs via energy independence, streamlining government operations, and promoting traditional “American values.”
Despite campaign pledges suggesting support for digital assets, cryptocurrencies were absent from the announced agenda. However, analysts remain optimistic that crypto could still play a significant role during Trump’s second term.
Earlier that day, speculation swirled in crypto circles about the possibility of an executive order establishing a strategic Bitcoin reserve. While no such order materialized on January 20, traders on platforms like Polymarket estimate a one-in-three chance of this reserve being introduced within Trump’s first 100 days.
Meanwhile, rival prediction market Kalshi suggests there’s a 60% likelihood of the initiative being enacted sometime this year.
A Tumultuous Weekend for Crypto
The crypto market witnessed significant turbulence over the weekend, coinciding with Trump’s launch of his own memecoin on the Solana blockchain. The debut of the Official Trump (TRUMP) token ignited both enthusiasm and backlash within the crypto community.
TRUMP soared by over 490% within its first 24 hours of trading on January 18, rapidly ascending to become one of the top 30 cryptocurrencies. Data from CoinGecko reveals that the token’s market capitalization neared $11 billion during its initial surge.
Bitcoin also reached a new all-time high in the lead-up to Trump’s inauguration, briefly breaking the $109,000 mark before stabilizing around $104,000.
Since Trump’s election victory on November 5, Bitcoin has rallied nearly 50%, driven by investor optimism about the administration’s potential to usher in a pro-crypto era characterized by favorable regulations and heightened legitimacy for digital assets.
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