On his first day as president, Donald Trump surprised the Bitcoin community by fulfilling one of his major promises, he gave a full pardon to Ross Ulbricht, who ran the Silk Road and supported Bitcoin. The significant move marked a strong beginning for Trump’s connection with the cryptocurrency world. But everyone is wondering, what happens next? The president has kept his first promise, so now everyone is focused on his other Bitcoin-related promises. People are speculating about what might happen next.
Ulbricht’s Pardon
Ross Ulbricht’s pardon was a significant topic during Trump’s campaign, generating excitement in the Bitcoin community. The pardon happened only a few hours after forecast markets like Polymarket showed a 95% chance it would happen, based on hints from essential government officials. This early action has led to many guesses about Trump’s plans with Bitcoin, sparking predictions about how he might handle Bitcoin during his first term as president.
Bitcoin Reserve
One of the most discussed claims is Trump’s plan to create a national Bitcoin reserve. This would make Bitcoin a U.S. government asset. Stocks predict a 30% likelihood that Trump will keep this pledge in his first 100 days. Police will store stolen Bitcoin instead of auctioning it, proving that the federal government supports it.
State Leadership
Even though Trump’s national Bitcoin reserve might take a while, some states are already moving forward with similar efforts. States such as Texas, Alabama, and Pennsylvania are considering or have started making laws to set up their own Bitcoin funds. There is a 43% chance that Texas will pass the Bitcoin Reserve Act in 2025. With seven states already participating, these local attempts might lead to a broader national policy in the future.
The Future of Bitcoin
As Trump’s administration begins, people will closely watch how prediction markets respond to his promises and deeds. Bitcoin will likely remain a political issue since the U.S. is 60% likely to construct a Strategic Bitcoin Reserve by 2025. More people participating in prediction markets will enhance their accuracy in predicting political events.
Conclusion
Trump’s early actions paved the way for a president supporting cryptocurrency. He has already kept his first promise about Bitcoin, and more promises are expected in the future.
