He is expected to sign executive orders to elevate crypto to a national policy priority and form a Presidential Council of Advisers for Digital Assets.

It’s still early days, but the kickoff of President Donald Trump’s second term appears to have left some crypto investors disappointed so far.

Although Trump has been relatively quiet on crypto on day one of his presidency, the bitcoin community is watching closely.

"The reign of terror against crypto is over, and the beginning of innovation in America for crypto has just begun," Sacks said, speaking on Friday at the so-called crypto ball event, intended to drive support for Trump among the crypto community and demonstrate its value to the incoming administration.

Bitcoin extended a retreat from a record high as traders awaited pro-crypto policy directions from Donald Trump following his inauguration as the 47th US president.