While running for president, Donald Trump promised to change his outlook towards cryptocurrencies and become more crypto-friendly. However, things have been quite different. Since President Trump took on the onus of the office, crypto has been on a downward trajectory.
BTC saw a sharp dip from $100k to mid-$ 70k. XRP is failing to recover its all-time high, and there has been a general liquidity increase. These factors played a crucial role in the grand scheme of things. In fact, the S&P 500 arena has also seen a considerable drop of 12% since Trump took office.
Was Trump The Hope Or The Despair?
However, pro-Trump investors have something different to say. They believe that Trump is actually making positive headway in the right direction by opening up the avenues for more detailed adoption. And that the current situation is an offshoot of a transitory period.
One important move adopted by the newly elected president is the aim to build a strategic reserve. In a recent announcement, President Trump announced that the US is looking to create a strategic crypto reserve for some of the popular cryptocurrencies like Cardano, XRP, SOL, and ETH.
This movement could fuel the next bullish run, so Trump’s intervention might not be as bad as everyone thought it would be. However, the unprecedented tariff war could undo all the good work the newly elected president has put in. The tariff war has already wiped out a considerable amount of assets.
Therefore, the overall landscape is riddled with many complexities that need careful understanding.
