With Donald Trump being elected President, his previous promises regarding cryptocurrencies remain a central focus. From his Bitcoin conference speech to his initial actions in office, we explore the developments.
Trump's Speech at the Bitcoin Conference
Before his election, Trump delivered a historic speech at the Bitcoin conference, promising to establish a strategic Bitcoin reserve in the U.S. This promise garnered significant attention in the cryptocurrency community.
Fulfillment of Promises in the First Days of Presidency
In the first days of his term, Trump issued an executive order on cryptocurrencies and announced the formation of a cryptocurrency task force. The White House official document highlighted that one of the task force’s responsibilities was to explore the creation of a 'digital asset stockpile.' This wording sparked reactions in the cryptocurrency community, as it seemed to imply preserving existing assets rather than purchasing BTC as suggested by the term 'reserve.'
Probability of Bitcoin Reserve Creation
The cryptocurrency market still holds hope for the establishment of a Bitcoin reserve. A market has been opened on the Polymarket platform for the creation of a Bitcoin reserve in 2025 under the Trump administration. At the time of writing, the probability of a Bitcoin reserve being established in the US is 50%. This probability had reached 65% during Trump's inauguration but decreased following the White House's statement. Polymarket's rules specify that the market will resolve to 'Yes' if the US government holds any Bitcoin in reserves between January 1, 2025, and December 31, 2025.
Trump's promises regarding the cryptocurrency market continue to influence industry expectations and forecasts. The establishment of a strategic Bitcoin reserve remains uncertain, and only time will tell how these plans unfold.
