Bitcoin Not a Trump Priority? TD Cowen Faults Key Omission at Recent Congressional Address

Industry expert argues that President Donald Trump’s omission of Bitcoin and crypto in Tuesday’s congressional address puts his policy position in doubt.

Over the past year, President Donald Trump has talked up crypto at rallies, at a Bitcoin conference, and on social media, but perhaps never in the places that matter, according to some experts.

The latest incident to stir these sentiments is Trump’s omission of crypto in his Tuesday, March 4, congressional address.

While some have argued that the president refrained from mentioning crypto to avoid complicating delicate negotiations between House Republicans and Democrats on stablecoin legislation, investment bank TD Cowen has reportedly offered another view: crypto is not a priority for Trump.

“If it was a personal priority, then it would have been in the speech,” TD Cowen Washington Research Group Managing Director Jaret Seiberg wrote in a note.

The Cowen executive argued that Trump only talks up the industry before crypto investors.

These sentiments are perhaps more significant when combined with the fact that election polls last year showed that crypto was not a core issue for voters, and crypto executives had raised a significant war chest willing to throw cash at whoever so much as looked their way twice in order to overturn a perceived stifling regulatory environment.

While the strategy has undoubtedly given the industry a lot of influence in Washington, it does leave room for doubt about the genuineness of some of its newfound support.

Whatever the case, the industry does appear to be on pace for an extended fairweather period as the executive arm and regulators seem willing to collaborate with its leaders on policy at a never-before-seen level.

For one, on Friday, March 7, some of these leaders will convene at the White House for the first-ever crypto summit.