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Trump's First 100 Days: What Changed in the Crypto Market?
Bitcoin's rise was interrupted during Trump's first 100 days; some critics argue that the president's pro-crypto policies were insufficient.
The crypto world had high hopes after Trump's potential second term victory, but disappointments were experienced despite significant pro-Bitcoin statements.
After his return to the Oval Office, there was much speculation that a series of crypto-friendly executive orders would be signed, including the establishment of a strategic Bitcoin reserve in the early days. However, these plans were never realized. Bitcoin had reached a record high of $109,000 on January 20, but has not returned to that level since.
Trump quickly fulfilled his campaign promises at the Bitcoin 2024 event held in Nashville. Ross Ulbricht, the founder of Silk Road, was granted a full and unconditional pardon and was photographed smiling as he was released from prison after 11 years. There were reports that Sam Bankman-Fried was also lobbying for a pardon, but this did not happen.
On the other hand, several Bitcoin-friendly members of Trump's cabinet were swiftly confirmed by the Senate. One of these figures was Treasury Secretary Scott Bessent, who said, "Crypto is about freedom, and the crypto economy is here to stay."
Additionally, it was observed that the president's companies were increasingly interested in digital assets, with Trump Media and Technology Group amassing significant crypto reserves and announcing several exchange-traded funds.
Donald Trump had a simple rule: always expect the unexpected. We saw this when he made an unexpected announcement on Truth Social on March 2, revealing plans to establish a "U.S. crypto reserve" consisting of XRP, Solana, and Cardano.
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