- The new president has begun to deliver on his crypto promises.
- Analysts expect Bitcoin to reach $200,000 in 2025.
A version of this story appeared in Round Newsletter on January 24. subscription here.
Hello! Eric here.
Donald Trump has only been in office a few days, but oh boy what a few days he’s been there.
First, Trump ticked several campaign promises to the industry off his to-do list.
Then tell Trump World Economic Forum He plans to “make the United States a manufacturing superpower and the global capital of artificial intelligence and cryptography.”
He fired creator Ross Ulbricht, signed a pro-rent executive order, and pledged to create a new blockchain on digital assets.
The executive order called for a major reform of crypto policy, including a study that would evaluate the creation of a “National Digital Asset Stockpile.”
These moves will certainly please the crypto industry, some of which have raised eyebrows $197 million To support him and other industry-friendly politicians.
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Not everyone is happy.
Trump is also facing backlash from both the crypto community and his own Critics To launch MemeCoin and the first Ms.-backed MemeCoin.
And co-founder of Ethereum Vitalik Buterin Memcoins are backed by politicians as the “perfect bribery vehicle”. He did not mention Trump by name.
Nic Carter, Castle Island Ventures Partner and Trump Backer, He said On X: “Call me old, but I think presidents should focus on running the country and not releasing scam codes.”
Despite the backlash, Bitcoin’s price has risen in anticipation of a friendlier environment to come.
Pastor Lorenzo Sewell gave an emotional sermon at Trump’s inauguration. Then launch MimiCoin. The crypto community was less than happy.
BlackRock CEO Larry Fink suggested that hints that sovereign wealth funds are actively exploring allocating some of their portfolios to Bitcoin will push the crypto to $700,000.
The cryptocurrency linked to Tornado Cash fell by more than a third in 24 hours after the court case spurred a 150% surge in its value on Wednesday.
Next week
Libertarians celebrate Trump’s pardon of Ulbricht. While they raised $270,000 to support the Silk Road founder, the community jumped at the chance to mock him.
