Trump's First 100 Days: A Boon for Bitcoin

President Donald Trump plans to hold a 100-day inauguration celebration event in Michigan on April 30. This marks the beginning of an accelerated agenda for his second term, particularly within the realm of cryptocurrencies.

During his initial 100 days of his second term, Trump achieved a key pledge from his election campaign. singing an executive order To create a Strategic Bitcoin Reserve, thus formally recognizing Bitcoin as a crucial asset for the United States.

Secretary of Commerce Howard Lutnick said that with assistance from crypto czar David Sacks , Trump accelerated the creation of the reserve, showcasing the administration's strong support for Bitcoin. "We managed to assist the President in establishing that Bitcoin strategic reserve," stated Lutnick.

The Trump administration formally designated Bitcoin as a commodity, similar to gold and oil, rather than labeling it as a security. "When you adopt the idea of a commodity, you will realize just how elegant this classification is," Lutnick told Bitcoin Magazine , which elucidates regulations for investors and exchanges.

Trump's First 100 Days as a Bitcoin Champion President

Trump took swift action in his first 100 days in office, signing an executive order for the Strategic Bitcoin Reserve , which already has 200,000 confiscated BTC, and a second reserve for other leading cryptocurrencies like Ethereum, Solana, and XRP .

Executive orders issued during the Trump administration advocated for public blockchain networks, supported cryptocurrency mining, and banned a U.S. central bank digital currency (CBDC). from being developed .

The White House hosted a Cryptocurrency Summit and established a Presidential Working Group on Digital Asset Markets, led by David Sacks.

Before his presidential inauguration on January 20, Trump and his spouse Melania introduced the TRUMP and MELANIA meme tokens. Alongside this release, Trump was associated with cryptocurrency projects like World Liberty Finance. has drawn criticism from the Democrats.