In the land of virtual coins and blockchain dreams, a motley crew of cryptocurrency bigwigs has been grumbling to CryptoMoon. It seems they’re less than enchanted with President Trump’s shiny new plan to hoard Bitcoin like a digital dragon on its treasure mound.
Trump’s March 6th decree to establish a strategic Bitcoin reserve, along with a separate stockpile for altcoins, was met with a resounding ‘meh’ from the crypto crowd. They’re still waiting for the White House to do more than just fling buzzwords into the air like confetti at a crypto parade.
“The markets are holding out for a treasure map to innovation, not just a chest full of ‘maybes’ and ‘whatevers’ on stablecoins, institutional adoption, and taxation,” quipped Max Giammario, CEO of Web3 AI startup Kindred, to CryptoMoon. “The current vague blathering is just making everyone more confused than a chameleon in a mirror factory.”
And here’s a visual aid to distract you from the fact that nothing much has changed yet:
Campaign Promises: More Than Just Hot Air?
Last July, Trump vowed to transform America into the ‘crypto capital of the world’ and to stockpile Bitcoin like it was the new gold. He did technically deliver on his promise, but it was like getting socks for Christmas when you asked for a pony.
Instead of the government going on a crypto shopping spree, the reserve will be filled with digital assets seized by the law—sort of like a digital lost and found, but with more handcuffs.
Bitcoin’s value has taken a bit of a tumble since March 6th, and altcoins are doing the crypto equivalent of a belly flop. The total market capitalization has shrunk by more than $400 million, which is enough to make even the most stoic of crypto execs wince.
“If Trump’s team can hand over some clear rules on stablecoins, ETFs, and institutional adoption, we might just see altcoins bounce back,” said Alvin Kan, COO of Bitget Wallet, to CryptoMoon. “Otherwise, Bitcoin will keep hogging the crypto spotlight, like the popular kid at school who always gets picked first for dodgeball.”
Reasons to Keep the Crypto Faith
Despite the current funk, crypto execs are still clinging to hope like a climber to a crag. They’re pointing to Trump’s crypto-friendly chatter and his appointment of industry enthusiasts to key regulatory roles as reasons to keep the faith.
“The future of US crypto policy under Trump is as clear as a London fog, but with the right people in the right places, we should see some bright spots on the horizon,” Theodore Agranat, director of Web3 at Gunzilla Games, told CryptoMoon. “Fingers crossed for a future where crypto thrives like a weed in a well-tended garden.”
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2025-03-11 00:09