Trump's Silence on Crypto Leaves Investors Uncertain, Causing Market Volatility and Delays in Expected Pro-Crypto Policies

President Trump's inaugural speech failed to mention cryptocurrency, leaving many in the crypto community disappointed.

President Trump’s inaugural address failed to mention cryptocurrency, leaving many in the crypto community disappointed. Before his election victory in November, Trump had vowed to introduce pro-cryptocurrency policy, including the formation of a Strategic Bitcoin Reserve. However, he did not address these issues at his inauguration.

One of these promises was to praise Silk Road founder Ross Ulbricht on his first day in office and to highlight issues such as Operation Chokepoint, which have prevented crypto businesses from accessing banking services. However, none of these issues were mentioned in his inaugural address.

But the uncertainty surrounding crypto-friendly policies under the new administration has left investors, who had a positive outlook on crypto-friendly policies, feeling uneasy about the topic. Trump’s silence on crypto left many investors wondering where the president will go next, having expected the administration to take immediate action in support of the industry.

Moreover, Punchbowl News suggested that cryptocurrency will not be a top priority for the incoming administration. Many in the crypto community had also hoped that this would come quickly in support of digital assets.

Ultimately, that led to some volatility in the crypto market. For example, the price of Bitcoin dropped dramatically and even dipped to $100,300. Other cryptocurrencies were down too, seeing a drop of 4–5%. But, at the time of writing, Bitcoin has begun to recover and is currently trading at $104,200.

The lack of this much needed fast action on cryptocurrency issues prompts the question about the future of digital assets in the Trump universe. Some are still hoping Trump will ultimately sign pro-crypto policies but his inability to push them so far has left the community in the dark. Crypto investors will keep a close eye on how the administration will deal with the industry as the situation unfolds.