Despite not mentioning Bitcoin in Trump’s first speech, experts believe his administration will soon make crypto a priority

Despite not mentioning Bitcoin in Trump’s first speech, experts believe his administration will soon make crypto a priority. By Eleanor Terrett.

Despite the absence of any direct mention of Bitcoin in Trump's first speech, several signs indicate that his administration will prioritize cryptocurrency in the coming days.

After returning to the White House on Jan. 20, Donald Trump kicked off his second term as the 47th President of the United States with an inaugural address that promised a “golden age” for America. His speech touched upon themes of unity, economic strength and border control, addressing hot-button issues like inflation, immigration and energy production. However, one glaring omission was any mention of cryptocurrency or Bitcoin (BTC), despite the recent involvement of the Trump family in the crypto space.

On Jan. 17, Donald Trump announced his own meme coin, “Official Trump” (TRUMP), in a bold and unexpected move. Not to be outdone, Melania Trump followed suit two days later with her own “Official Melania Meme” (MELANIA). Both tokens generated a massive hype, with millions of traders quickly joining the frenzy. Despite an initial surge, the value of the tokens quickly plummeted, although they still boast hefty market caps in the billions.

Meanwhile, Bitcoin scaled a euphoric peak, climbing to a record high of $109,020 just hours before Trump's swearing-in. However, the celebration was short-lived. As of Jan. 21, BTC’s price had pulled back to $103,000 levels, marking a nearly 5% drop. Analysts attribute this decline to a combination of traders cashing out profits and market uncertainty stemming from Trump's silence on crypto.

So, what has transpired since Trump's inauguration, and what can we anticipate in the days to come? Let's delve deeper to find out.

A day of action, but not for crypto

As Trump returned to the White House, the crypto world held its breath. Rumors of executive orders that could alter the fate of the crypto industry had dominated pre-inauguration chatter. There were whispers of initiatives to create a strategic Bitcoin reserve, establish a crypto advisory council and even ban the creation of a central bank digital currency. Expectations soared. Day one felt like it could be a defining moment for the industry.

Instead, reality arrived with a dose of disappointment. Trump's first day in office was packed with action — 80 executive orders signed in rapid succession, overturning policies from the previous administration. Federal workers were ordered back to the office, the U.S. pulled out of the Paris Agreement and the World Health Organization, and new federal regulations were put on hold. Even on Jan. 6, rioters saw federal charges against them dropped. But for all the sweeping changes, crypto didn’t make the cut. Hopes of day-one clarity dissolved as the priorities lay elsewhere.

Yet, not all hope is lost. Eleanor Terrett, a journalist for Fox Business, recently hinted at big moves potentially still on the horizon. In a tweet that sparked conversations across the digital finance world, she suggested that Trump might yet sign executive orders banning CBDCs and establishing a formal crypto council. Her words align with those of Jeremy Allaire, CEO of Circle, the parent company behind USDC (USDC), who has also expressed optimism. Allaire believes that Trump’s administration could soon ease restrictions on banks holding digital assets, including the repeal of the SEC’s Staff Accounting Bulletin 121 — a long-standing barrier for financial institutions interested in crypto.

According to Reuters, Circle CEO Jeremy Allaire said that US President Trump may soon sign an executive order to make it easier for banks to own digital assets. Allaire called for the repeal of the US SEC's Staff Accounting Bulletin (SAB 121), which prevents financial… While the crypto industry is eager for rapid progress, industry pioneers have urged patience. Binance founder CZ recently addressed this sentiment, tweeting, “Everyone expects everything to happen in one day. 😆 Good things take time.”

Everyone expects everything to happen in one day. 😆Good things take time.

Glimmers of optimism amid the silence

As the crypto industry grapples with uncertainty, a notable announcement from Donald Trump Jr. on Jan. 20 caught attention. Just hours after his father's inauguration, Trump Jr. unveiled a series of strategic investments made by World Liberty Financial (WLFI), a DeFi project launched by the Trump family in 2024.

To commemorate the inauguration of Donald J. Trump as the 47th President of the United States, $WLFI is proud to announce the following strategic purchases today:$47,000,000 ETH$47,000,000 wBTC$4,700,000 Aave$4,700,000 LINK$4,700,000 TRX$4,700,000 ENAExcited for the… The allocations included $47 million each