Bitcoin's Golden Moment: Will It Soar After Trump's Inauguration?
With President-elect Donald Trump's inauguration on Jan. 20, seismic shifts are expected in the digital asset space, as the impact of Trump's proposed initiatives begins to unfold.
Establishing a strategic Bitcoin reserve:
In July, then Republican candidate Donald Trump promised to create a "strategic national bitcoin reserve" and predicted bitcoin could eclipse gold's $16 trillion market capitalization during an appearance at the Bitcoin 2024 conference.
Preventing a Central Bank Digital Currency (CBDC).
Trump has pledged to stop any efforts toward establishing a US CBDC, aligning with privacy advocates who view government-controlled digital currencies as a threat to personal financial freedom.
Dominate Bitcoin mining:
Trump wants “all remaining Bitcoin to be MADE IN THE USA,” signaling strong support for domestic Bitcoin mining. From Trump’s perspective, Bitcoin miners can help America stay “energy dominant.”
Establishing a Bitcoin and crypto advisory council:
Trump plans to create a Bitcoin and crypto advisory council in his first 100 days if elected. This council of pro-digital asset experts would develop a clear regulatory framework to encourage industry growth and innovation.
The president-elect’s crypto policy team is already extensive:
Under Trump's proposed administration:
Paul Atkins, crypto-friendly, to chair SEC
David Sacks, crypto enthusiast, as "AI and crypto czar"
Stephen Miran, crypto regulation critic, to lead Council of Economic Advisers
Howard Lutnick, Tether stakeholder, as commerce secretary
Scott Bessent, crypto supporter, as Treasury secretary.
The Most Pro-Crypto US Congress:
The upcoming legislative session may provide regulatory clarity for the crypto industry in the US. Recent election results suggest public dissatisfaction with the current financial system. A bipartisan pro-crypto majority in Congress could turn US regulation into a positive factor for crypto performance in 2025, rather than a hindrance.
