Trump, who declared himself pro-Crypto President, took office, funds were withdrawn from the virtual asset market.

When Trump, who declared pro-Crypto President, took power, funds were withdrawn from the virtual asset market.

output: Among the topics that President Trump, who announced his candidacy for the 2024 presidential election on Tuesday, is expected to discuss during his second term are cryptocurrency policy and the integration of blockchain technology.

During his first term, Trump expressed interest in cryptocurrency on several occasions. He displayed familiarity with Bitcoin (BTC) and Stellar (XLM), and his administration reportedly explored the possibility of a U.S. government-issued digital currency.

However, despite rumors of Trump investing in cryptocurrencies like Bitcoin in the 1990s, there is no evidence to suggest that he holds any personal cryptocurrency investments.

While Trump's administration did not prioritize cryptocurrency regulation, it is an area that could feature more heavily in a second term.

With the rapid advancements in blockchain technology and its potential applications in various sectors, such as supply chain management, voting systems, and government services, it is likely that Trump would aim to leverage these innovations.

In the realm of cryptocurrencies, Trump's administration had a minimal impact on the market.

Although Trump declared himself a "Pro-Crypto President" and expressed interest in Bitcoin, the cryptocurrency market experienced a significant downturn during Trump's presidency.

According to CoinMarketCap, the market capitalization of all cryptocurrencies on Thursday was approximately $2.65 trillion.

This figure represents a decrease of about 24% from $3.53 trillion on January 20, 2021, the day President Trump was inaugurated.

The main factors contributing to the decline in cryptocurrency market capitalization since Trump took office are the outflow of market investment funds and macroeconomic uncertainty caused by the trade war.

According to CoinShares, an asset management company specializing in digital assets, digital asset investment products around the world have seen net outflows for the past month. The outflow is estimated at about $4.7 billion.

Moreover, President Trump's recent suggestions of potential tariff wars with Canada, Mexico, and China are also cited as a cause of market instability, leading to investors shifting their investments into safe haven assets.

Spot gold prices have remained strong this year, increasing by about 14% and continuing the 27% rise observed last year.

Expectations for the Trump administration's policies to be more favorable to cryptocurrencies persist, but some analysts contend that the recently announced policies are insignificant in meeting market expectations.

This assessment stems from the executive order regarding the Bitcoin reserve plan, which essentially focuses on the U.S. government not selling Bitcoin that is seized.

Bitfinex, a Hong Kong-based cryptocurrency exchange, stated that the U.S. government's strategic stockpile of Bitcoin does not involve a direct purchase of Bitcoin but rather concerns the volume seized in criminal cases. According to Bitfinex, Bitcoin is more likely to remain in a sideways market with price fluctuations within a defined range.

On the other hand, Arthur Hayes, co-founder of global cryptocurrency exchange BitMex, predicts that if the U.S. stock market experiences further declines and central banks in each country implement quantitative easing measures, it will contribute to the recovery of the cryptocurrency market.