It seems the crypto space will have to wait as President Donald Trump failed to address the industry in his inauguration speech when he was sworn in as the 47th president of the United States.
The mention of Bitcoin or any digital assets, which many had anticipated, never came, which left many in the crypto space a bit disappointed.
Meanwhile, the market reacted to the event. For instance, Bitcoin, which saw a new high of $109,000 earlier today, saw a sharp dip during the speech, falling below $102,000.
BTCUSDT Hourly Price Chart | Source: TradingView
Traders and investors were hoping for a sign that the president would announce pro-crypto policies, but instead, his were mostly about issues like immigration, healthcare, and energy.
A report from Aggr on X also showed that the GOP priorities for the upcoming term also contained no mention of cryptocurrencies, which raises questions regarding the future of digital space under this new leadership.
Trump’s relationship with cryptocurrency has always been messy. During the first term, Trump was against Bitcoin, criticizing it and labeling it as “based on thin air” and claiming it would be detrimental to the U.S dollar.
But ever since he left office, all of his public actions told a different story. First, he launched his own NFT collection, used digital assets to fund campaigns, and even tried proposing a bitcoin reserve in the US. These actions gave people hope that his second term would bring more good crypto policies.
Just 2 days before the inauguration, Trump launched his own TRUMP meme coin, which saw an explosive rise in value. To some, this was a sign of his interest in the space. To others, it is just a marketing strategy.
Nevertheless, his failure to talk about cryptocurrency in his speech left many wondering about his true stance on the industry.
