Today, Donald Trump has officially became the 47th president of the United States. A noteworthy development has just taken place amid the President Donald Trump’s inauguration. As per Arkham Intelligence, as soon as Donald Trump sworn the oath as the 47th U.S. President, his World Liberty Financial has acquired up to $4.7M in $BTC. The blockchain analytics firm took to social media to disclose this development.
Donald Trump’s Oath Parallels with World Liberty Financial’s Acquisition of 44.3 $BTC
Arkham Intelligence revealed that simultaneous to Trump’s inauguration, a substantial amount of nearly 44.3 $BTC has flowed into World Liberty Financial. This transfer is visible on the public blockchain of Ethereum. The respective transfer took place through the CoW Protocol Settlement contract. In line with the data, nearly 44.3 $WBTC tokens moved to World Liberty FI: Gnosis Safe Proxy.
In addition to this, the gas fee of the transfer reportedly stood at almost 0.0795 $ETH ($268.99). In this respect, the level of the gas price was set at up to 39.14 $GWEI. This acquisition denotes Trump’s increasing crypto focus which he discussed as the main theme in the political messaging thereof. Throughout the campaign, he stressed the vision of making the United States a worldwide cryptocurrency hub.
Development Highlights Trump’s Vow to Boost Crypto Adoption
According to Arkham Intelligence, this immediate $BTC acquisition by World Liberty Finance underscores the Trump’s focus on crypto adoption. Additionally, this might also have a great impact on the broader crypto market. However, the particular outcomes of this Bitcoin acquisition are yet to be seen.
It is pertinent to mention here that $BTC has recorded a new all-time high price of $109k today on Trump’s oath-taking day. Now, all eyes are on Bitcoin strategic reserve as Trump has already changed the chairman of the US SEC. This was already predicted by many analysts like Tom Trowbridge, CEO and Co-founder of Fluence.
As per him, the incoming administration marks a transformative shift for the crypto ecosystem. Under the previous SEC, hostility toward crypto stifled growth, but the appointment of David Sacks as ‘crypto czar’ signals a pro-crypto stance. The Crypto Reserve could spark global Bitcoin accumulation and pro-crypto legislation. Anticipation surrounds policies like eliminating capital gains taxes. Additionally, the administration’s tech-friendly initiatives could accelerate decentralized cloud and DePIN adoption.
