Bitcoin Retreats as Trump’s Inauguration Speech Leaves Out Cryptocurrency, Strategic Reserve Unmentioned

President Donald Trump’s inauguration speech on Monday afternoon dashed expectations for immediate crypto policy announcements, as no mention was made of a strategic bitcoin reserve or other cryptocurrency initiatives.

The omission comes despite previous hints of a crypto-friendly stance from Trump’s team. A GOP congressional priorities report released earlier in the day also failed to include bitcoin or blockchain-related plans, adding to market uncertainty.

Bitcoin Pulls Back on Disappointment

Bitcoin (BTC) lost momentum during Trump’s speech, falling to test the $100,000 mark after briefly surpassing $109,000 overnight. The market’s reaction reflects fading optimism among traders who had hoped for stronger signals of crypto support from the new administration.

Trump’s Pro-Tech Policies Still in Play

Despite the lack of crypto mentions in the speech, Trump has made moves to position his administration as supportive of emerging technologies. He recently appointed venture capitalist and former PayPal COO David Sacks as the White House “A.I. & Crypto Czar” and nominated Paul Atkins, a longtime crypto advocate, to lead the SEC. These decisions have fueled hope that Trump’s presidency could bolster the U.S. crypto industry.

Controversy Surrounding Memecoin Launches

Over the weekend, Trump drew both attention and criticism with the launch of the Trump memecoin, followed shortly by a memecoin associated with Melania Trump. While the launches sparked a wave of speculative trading, some in the crypto space were less than impressed.

“This is absurd,” said Nic Carter, co-founder of Castle Island Ventures. “The memecoin launch undermines the credibility of crypto and distracts from meaningful innovation.”

Market Sentiment Cools

On Polymarket, betting odds for Trump creating a strategic bitcoin reserve during his first 100 days in office fell to 45%, down from a high of 60% earlier in the day. The lack of immediate action or policy announcements has tempered expectations, leaving investors to wait for clearer indications of the administration’s crypto agenda.

While Trump’s inauguration speech may have disappointed the crypto community, his earlier appointments and stated support for transformative technologies suggest there is still potential for future crypto-friendly policies. For now, the market remains cautious as it looks for signs of follow-through on Trump’s pro-crypto promises.