Analyzing Donald Trump’s Crypto Strategy as Inauguration Day Nears

As President-elect Donald Trump Donald Trump Donald Trump is an American former president politician, businessman, and media personality, who served as the 45th president of the U.S. between 2017 to 2021. Trump earned a Bachelor of science in economics from the University of Pennsylvania in 1968. Trump won the 2016 presidential election as the Republican Party nominee against Democratic Party nominee Hillary Clinton while losing the popular vote. As president, Trump ordered a travel ban on citizens from several Muslim-majority countries, diverted military funding toward building a wall on the U.S.–Mexico border, and implemented a family separation policy. Trump has remained a prominent figure in the Republican Party and is considered a likely candidate for the 2024 presidential election President prepares for his inauguration, the U.S. cryptocurrency industry is urging him to follow through on his campaign promises to push cryptocurrencies into the mainstream. The industry is hoping for a series of executive orders on his first day in office, January 20, to lay the foundation for a crypto-friendly future. 

Bitcoin touched the epic milestone after Donald Trump won the presidential elections and touched the ATH of $108,000 in December. Trump’s biggest plan to create the US Bitcoin Strategic Reserve has been buzzing since he announced the plan during his campaign. Here’s an insider scoop on Trump’s larger-than-life plans to make the US a Bitcoin powerhouse. 

How a Bitcoin National Reserve Will Transform the U.S.

Industry experts are urging Trump to cement the U.S.’s role as a global leader in cryptocurrency by creating a national Bitcoin reserve. Reports suggest that this initiative could be managed by the Treasury Department, though some believe it might require Congressional approval. Supporters argue that such a reserve could strengthen the nation’s economic position and act as a hedge against market instability.

At the same time, crypto firms are pushing for easier access to banking services. Many companies have struggled to work with traditional financial institutions due to regulatory hurdles. Improved banking relationships could significantly accelerate the growth of the cryptocurrency sector.

A Crypto Industry Council on the Horizon?

Trump’s team is reportedly considering establishing a crypto industry council to shape policy and offer structured guidance for the sector. This council could provide a unified approach to addressing the unique challenges faced by cryptocurrencies. Additionally, Trump is expected to advocate for a review of existing crypto regulations to ensure they align with the industry’s rapidly evolving needs.

While the Biden administration has been more cautious, with regulatory crackdowns on crypto companies, Trump has promised to reverse these policies. His crypto-friendly appointments, such as SEC Chair Paul Atkins and White House crypto czar David Sacks, signal a shift towards a more supportive environment for digital assets.

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Market Impact

Bitcoin’s price surged to new highs, surpassing $107,000, after Trump announced his plans for a Bitcoin Reserve. While it has since dipped below $100,000, the promise of a national stockpile has sparked optimism in the market. Despite the bullish call, Bitcoin has reacted negatively to the recent events Fed’s hawkish comments, and the DOJ’s court approval to sell the seized Bitcoins. Following the news, Bitcoin drastically fell to the $94,471 level. 

Overall, the crypto insiders are highly charged as they expect Trump to go aggressive on his crypto plans while crypto OG like arthur hayes arthur hayes Arthur Hayes is a supporter of Bitcoin and advocate for fintech, also best known as the co-founder and former CEO of BitMEX, founded in the year 2014 alongside Benjamin Delo and Samuel Reed, with a headcount of 351. It is a leading cryptocurrency trading platform and has traded trillions in Bitcoin and other digital assets. Hayes, who worked in  Deutsche Bank and Citigroup as a derivatives trader, became interested in Bitcoin in 2013 after reading Satoshi Nakamoto's white paper. He stepped down as CEO of BitMEX in 2020 following regulatory challenges, Hayes is also known as the first crypto exchange executive charged under the Bank Secrecy Act. Hayes is recognized as the youngest African American billionaire in the crypto space.     Personal Details Born: 1985 Organization: BitMEX Location: Hong Kong Graduation: Earned a Bachelor of Science in Economics and Finance from the University of Pennsylvania and a Bachelor of Science in Economics and Finance from The Wharton School in 2008   Experience: Arthur Hayes is a Top Bitcoin Speaker involved in various Bitcoin events Served as Chief Investment Officer at Maelstrom from Dec 2022 to Present Served as Co-Founder at 100x Group from Oct 2020 to Present Served as Co-founder and CEO at 100x Group from Jul 2019 to Oct 2020 Served as CEO at BitMEX from Jan 2014 to Oct 2020 Served as Delta One Trader (Associate) at Citi from Jun 2011 to May 2013 Served as Associate at Deutsche Bank from Jul 2008 to Jun 2011 Served as Synthetic Equity Trader at Deutsche Bank from Jun 2008 to Jun 2011     EntrepreneurInvestorChief Executive OfficerTrader has given a warning of the severe market crash after Trump officially takes charge.

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