Donald Trump Sworn In as 47th U.S. President, Focuses on “America First”… Crypto Absent from Speech

Donald Trump was officially sworn in as the 47th President of the United States, marking the beginning of his second term in office. The inauguration ceremony took place on January 20 (local time) at the Rotunda of the U.S. Capitol in Washington, D.C.

Trump, who served as the 45th President from 2017 to 2021, returned to the White House after a decisive victory in last year’s election. With Republicans now controlling the Senate, House, and Supreme Court, Trump’s second administration is poised to push a stronger “America First” agenda.

In his inaugural address, Trump declared, “The golden age of America is just beginning,” emphasizing a clear commitment to prioritizing the U.S. above all else. He highlighted his administration’s measures of success as ending wars, avoiding new conflicts, and achieving peace through strength.

Key policy announcements included strict measures to curb illegal immigration, expanded tariffs, increased oil drilling, renaming the Gulf of Mexico, and restoring operational control over the Panama Canal.

Bitcoin reached an all-time high before the inauguration but reversed its course shortly thereafter. Market anticipation of a favorable crypto policy environment had pushed Bitcoin to $109,000, with speculation that executive orders addressing cryptocurrency as a national priority, a crypto advisory council, and a national Bitcoin reserve would materialize.

However, Trump’s speech and executive orders focused on issues such as immigration, tariffs, inflation, and gender rights, with no mention of cryptocurrency. Following the inauguration, Bitcoin corrected to the low $100,000 range and is currently trading at $102,216, up 1.43% from the previous day.

The CoinDesk 20 index fell over 5% during the event, while Solana, which had surged due to the Trump meme coin hype, led altcoin losses with a nearly 10% decline from its peak.

Gracy Chen, CEO of crypto exchange Bitget, told CNBC that “Bitcoin’s price could have risen higher if not for the launch of Trump family tokens.” She noted that capital rotation into new coins limited overall growth.

Joel Kruger, market strategist at LMAX, commented on Trump and Melania’s meme coins, stating, “Endorsing the wildest form of crypto assets signals the U.S. is committed to being a major player in the field.” He added that Bitcoin’s recent record-breaking performance could pave the way for a rise to $130,000.

Crypto newsletter author Noelle Acheson described Trump’s meme coin launch as a strong endorsement of innovation and new markets, predicting that it would have a lasting positive impact on the industry.