President Donald Trump will soon host a 100-day inauguration celebration rally in Michigan on Apr. 30. This will kick off a fast-paced second term — at least in the cryptocurrency space.
Within the first 100 days of his second term, Trump fulfilled his election campaign promise by singing an executive order to establish a Strategic Bitcoin Reserve, thereby officially acknowledging Bitcoin as a key asset of the United States.
Secretary of Commerce Howard Lutnick stated that with the help of crypto czar David Sacks, Trump expedited the reserve’s establishment, demonstrating the regime’s unwavering endorsement of Bitcoin. “We were able to help the President deliver that Bitcoin strategic reserve,” Lutnick said.
The Trump administration officially classified Bitcoin as a commodity, the same as gold and oil, not a security. “Once you embrace the concept of commodity, you’ll see how beautiful that is,” Lutnick told Bitcoin Magazine, explaining that it clarifies regulation for investors and exchanges.
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 from Trump’s administration pushed for public blockchain networks, endorsed mining, and prohibited a U.S. central bank digital currency (CBDC) from being developed.
The White House also held a Crypto Summit and christened a Presidential Working Group on Digital Asset Markets, chaired by David Sacks.
Trump and his wife Melania also launched the TRUMP and MELANIA meme coins ahead of his presidential inauguration on Jan. 20. The launch of meme coins, along with Trump’s involvement with crypto ventures such as World Liberty Finance, has drawn criticism from the Democrats.
