Exciting news for Bitcoin and cryptocurrency lovers! President-elect Donald Trump is set to make waves on his first day in office by taking action on the crypto world. According to reports from The Washington Post, he’s planning to sign executive orders that could shake up how digital assets like Bitcoin are treated in the U.S. economy.
So, what’s all this about? Let’s break it down:
What Could Trump Do on Day One?
Trump’s team is making it clear that cryptocurrency is a top priority. One of the first things on his agenda could be debunking debanking—a topic Melania Trump touched on in her 2024 memoir. This could be a game-changer for the financial world, especially when it comes to how digital assets are handled by banks.
Another key focus is the repeal of a policy called SAB121. This policy currently requires banks to treat digital assets, like Bitcoin, as liabilities on their balance sheets. Many, including MicroStrategy CEO Michael Saylor, have been pushing to get rid of this rule. Why? Because repealing it could help boost Bitcoin’s value, with some even predicting a future market cap of $100 trillion.
A New Crypto Council to Shape the Future
But that’s not all. The President-elect’s executive order is also expected to create a presidential crypto council, bringing together about 20 leaders from the industry. This could be just the beginning of a whole series of actions related to the world of cryptocurrency.
Bitcoin’s Big Price Jump: Coincidence or Sign of Things to Come?
In the days following this news, Bitcoin’s price took a significant leap—from $90,700 to over $99,000. Could Trump’s upcoming moves be driving this surge? It’s definitely something to keep an eye on.
Who’s Helping Trump Push for Crypto?
Trump’s picks for key positions show his commitment to the crypto space. Notable figures like David Sacks are set to take on major roles, including the position of crypto czar, which will likely play a crucial part in shaping the future of digital currency. Other pro-crypto appointees include Paul Atkins for SEC chairman, Howard Lutnick for Secretary of Commerce, and Scott Bessent for Treasury Secretary.
Is the U.S. Ready for a Bitcoin Reserve?
Trump isn’t just thinking about America’s crypto policies; he’s also considering a national bitcoin strategic reserve. Some states have already been toying with the idea, but Trump’s proposal would take it to a whole new level. If the U.S. moves forward with this, experts believe it could trigger a crypto “arms race”, with other countries rushing to build their own reserves.
What Does This Mean for You?
These developments could have big implications for the future of Bitcoin and the entire crypto industry. Whether you’re a crypto enthusiast or just curious about where things are headed, it’s clear that the world of digital currency is about to get a lot more attention—and potentially, a lot more regulation.
Stay tuned for what could be a thrilling ride in the crypto world, as Trump prepares to make his mark on day one of his presidency!
