Well, well, well… United States President Donald Trump listed his administration’s “America First Priorities” on Jan. 20, but guess what? No mention of cryptocurrencies or the promised Strategic Bitcoin Reserve. 😳
According to a White House briefing, Trump’s priorities include making America safe again, boosting affordability through energy independence, reforming the government bureaucracy, and bringing back “American values.” Wait, seriously? No love for the crypto world? 😢
Despite Trump’s pro-crypto agenda, digital assets weren’t listed in his America First Priorities. But don’t worry, industry observers say crypto will still feature prominently in Trump’s second term. Phew! 🙏
Earlier in the day, crypto markets were abuzz about the possibility that Trump would sign an executive order establishing a Strategic Bitcoin Reserve. Although the executive order wasn’t issued on Jan. 20, bettors on Polymarket still believe there’s a roughly one-in-two chance that the strategic reserve will be created within Trump’s first 100 days in office. 🤞
On rival betting market Kalshi, bettors say there’s a 63% chance that a Strategic Bitcoin Reserve will be enacted this calendar year. So, we might just have to wait and see. 🕰️
A Wild Weekend for Crypto
The crypto market has experienced extreme volatility over the past 72 hours after Trump launched his own memecoin on the Solana blockchain — earning him both praise and criticism from the crypto community. 😅
The Official Trump (TRUMP) memecoin surged more than 490% in its first 24 hours of trading on Jan. 18, becoming a top-30 crypto overnight. According to CoinGecko, the TRUMP token’s total market capitalization reached nearly $11 billion. Can you believe it? 🤑
The price of Bitcoin (BTC) also hit a new all-time high leading up to Trump’s inauguration, briefly trading above $109,000. The BTC price has since corrected back down to around $104,000. 💰
Despite the intraday volatility, Bitcoin has rallied nearly 50% since Trump was elected on Nov. 5. The rally was fueled by expectations that the incoming administration would usher in a golden era for crypto marked by favorable policies and greater political legitimacy. Fingers crossed, folks! 🤞
Stay tuned to CryptoMoon’s live blog as Donald Trump takes the oath of office on Jan. 20. Who knows what will happen next in the wild world of crypto! 🤯
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2025-01-20 23:27