Trump's Inaugural Speech Does Not Mention Cryptocurrency or Tariff Plan

Donald Trump has officially sworn in as the 47th President of the United States, marking a historic moment as he becomes the second U.S. leader in history to return to the White House after an interruption. As traders and cryptocurrency enthusiasts closely monitor his inauguration ceremony, there is high hope for potential recognition of digital assets. However, Trump's Monday inaugural speech shattered these expectations as it notably did not mention cryptocurrency. Inaugural speech: The theme of unity and strength, but no cryptocurrency In his 30-minute speech, President Trump outlined his key policy priorities for his second term, focusing on unity, strength, fairness, and pressing issues such as high inflation, border security, energy production, and oil. While many predicted a mention of Bitcoin, the US strategic Bitcoin reserve, or a declaration of the US as a global leader in cryptocurrencies, none of these topics were mentioned. The silence about digital assets has sparked a lot of mixed reactions. Some analysts and members of the cryptocurrency community see this as a prudent decision, as it avoids potential political rhetoric that could cause market volatility. Influential economist Peter Schiff commented: "One of the great things about Trump's speech is that he didn't mention Bitcoin". A strategic shortfall? The decision to avoid cryptocurrencies in Trump's speech may reflect a calculated move to maintain market stability. While some in the cryptocurrency sector expressed disappointment, others see this omission as a sign of caution, allowing the market to function without direct impact from political comments. Trump and Crypto: A growing relationship Despite his silence in the speech, Trump has shown increasing involvement in the world of cryptocurrency. His journey towards accepting digital assets gained momentum in 2024, when the industry played a crucial role in elections, contributing over $130 million to federal races. Recognizing the growing political influence of the cryptocurrency industry, Trump adjusted his position, openly courting leaders and investors in the field. In May 2024, at an event at Mar-a-Lago, Trump declared: "If you support cryptocurrency, you will vote for me". By July, he had appeared on stage at the Bitcoin 2024 conference in Nashville, where he announced a bold plan to establish a strategic Bitcoin reserve fund for the United States. A Weekend of Meme Coin: TRUMP and MELANIA Token The inauguration speech took place right after Trump's sudden breakthrough into cryptocurrency with the launch of his own meme coin, TRUMP, over the weekend. The token has skyrocketed to a peak valuation of over $14 billion according to CoinGecko. Similarly, Melania Trump, the current First Lady, introduced her own meme coin, MELANIA, which has surged to nearly $2 billion in value within hours of its launch. Despite the noise, Trump refrained from mentioning the TRUMP or MELANIA coin in his speech. The market's reaction was swift: the value of the TRUMP coin plummeted by 25% to $38 within hours of the speech, but later recovered to $41, bringing the total value to $8.2 billion. Meanwhile, Bitcoin, the leading cryptocurrency, dropped by 5% in a short period, falling to just over $101,000 before rebounding to $104,000. World Liberty Financial and Trump's vision of DeFi Trump's involvement in cryptocurrency is not limited to meme coins. In September 2024, Trump and his sons launched World Liberty Financial, a DeFi platform and stablecoin issuer. Despite initially slow sales, the project achieved its goal of selling 20 billion tokens just hours before the inauguration ceremony. The platform is currently preparing to issue another batch of tokens, which could generate an additional 250 million dollars if sold out. A cryptocurrency-friendly future? Although Trump avoided mentioning cryptocurrencies in his inauguration speech, his increasing involvement in the digital currency field signals a change in his approach. From attending cryptocurrency conferences to launching DeFi platforms and meme coins, Trump seems ready to leverage the influence of the cryptocurrency community in his second term. Whether this will translate into a more crypto-friendly administration remains to be seen, but the industry will definitely be closely monitoring. DYOR! #Write2Earn #Write&Earn $BTC {spot}(BTCUSDT)