President Donald Trump will soon hold a ceremony to celebrate 100 days in office in Michigan on April 30. This event will kick off a rapid second term — at least in the field of cryptocurrency.
In the first 100 days of his second term, Trump fulfilled his campaign promise by signing an executive order to establish the Strategic Bitcoin Reserve Fund, thereby officially recognizing Bitcoin as an important asset of the United States.
Commerce Secretary Howard Lutnick announced that with the help of cryptocurrency mogul David Sacks, Trump has expedited the establishment of the reserve fund, demonstrating the regime’s unwavering support for Bitcoin. “We were able to help the President provide that strategic Bitcoin reserve fund,” Lutnick said.
The Trump administration officially classified Bitcoin as a commodity, like gold and oil, rather than a security. “Once you accept the concept of a commodity, you will see how beautiful it is,” Lutnick told Bitcoin Magazine, explaining that it clarifies regulations for investors and exchanges.
100 Days of Trump as President Supporting Cryptocurrency
Trump acted swiftly in his first 100 days in office, signing an executive order for the Strategic Bitcoin Reserve Fund, which currently holds 200,000 BTC that have been seized, and a second reserve fund for other leading cryptocurrencies such as Ethereum, Solana, and XRP.
Executive orders from the Trump administration promote public blockchain networks, endorse mining activities, and prohibit the development of the central bank digital currency of the United States (CBDC).
The White House also hosted a summit on cryptocurrency and established a Presidential Working Group on Digital Asset Markets chaired by David Sacks.
Trump and his wife Melania also launched the meme coins TRUMP and MELANIA ahead of his presidential inauguration on January 20. The launch of the meme coins, along with Trump’s involvement in cryptocurrency projects like World Liberty Finance, has faced criticism from the Democratic Party.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
