The Digital Asset Summit 2025 hosted by Blockworks officially opened this week, and on the third day of the conference yesterday (20th), US President Trump delivered a speech via pre-recorded video, which BlockTempo has translated in full:

I am pleased to discuss with you how America will dominate cryptocurrencies and the next generation of financial technology. This is not an easy task, but we are already far ahead. Just two weeks ago, we hosted the first-ever White House Digital Asset Summit, bringing together many of the world's top cryptocurrency leaders for a dialogue. This meeting was led by our White House AI and Crypto Czar David Sacks, who is an exceptionally talented and smart person in charge of these matters.

That same week, I also signed an order creating a brand new Strategic Bitcoin Reserve and a U.S. Digital Asset Reserve, which will allow the federal government to maximize the value of the cryptocurrencies it holds, rather than selling them for pennies on the dollar like fools.

That's what Biden did, he only got pennies on the dollar.

We will end the regulatory war on cryptocurrencies and Bitcoin waged by the previous administration, including stopping that lawless "Operation Choke Point 2.0". This choke hold went far beyond regulation, I mean, way too far, it was a weaponization of the law by the government.

Frankly, it's a disgrace. And it will all end on January 20, 2025. I also call on Congress to pass landmark legislation to establish simple, common-sense rules for stablecoins and market structure.

With the right legal framework, both large and small institutions will be free to invest, innovate, and participate in one of the most exciting technological revolutions in modern history.

This is big, I think it's the biggest thing you can imagine. You pioneers will be able to improve our banking and payments systems, bringing more privacy protection, security, and wealth to American consumers and businesses.

You will unleash the explosive power of economic growth, and as the dollar returns to stablecoins, you will become the future of finance. And right here, in this great nation of ours, we will work together to make America the undisputed Bitcoin superpower and the global capital of cryptocurrency.

Bitcoin Briefly Dips Below $84,000

It can be seen that Trump reiterated his support for cryptocurrency and stablecoin legislation in his speech, but overall it was still a rehash of old tunes, and did not release any substantive positive news about Bitcoin as the market had expected. The speech was also only a little over two minutes long, leaving investors greatly disappointed.

Possibly affected by this, Bitcoin also encountered selling pressure after Trump's speech, plummeting rapidly from $86,529 to a low of $83,642, and has since slightly rebounded to $84,554 at the time of writing, a 24-hour decline of 1.36%.

Additionally, in the US stock market, despite the Federal Reserve (Fed) keeping interest rates unchanged and expecting to potentially cut rates twice this year, investors are concerned that Trump may impose more tariffs in April, causing US stocks to close in the red on the 20th under a risk-off sentiment.

• The Dow Jones Industrial Average fell 11.31 points or 0.03% to close at 41,953.32
• The S&P 500 index fell 12.40 points or 0.22% to close at 5,662.89
• The Nasdaq index, dominated by tech stocks, fell 59.16 points or 0.33% to close at 17,691.63
• The Philadelphia semiconductor index fell 33.16 points or 0.72% to close at 4,601.37