As the market anticipates a pro-crypto administration following Trump's inauguration, Bitcoin's price is currently around $95,000, having recently dipped below $100,000.

On January 12, 2025, Bitcoin's price saw a slight increase of 0.05%, closing at $94,585, with upcoming US inflation data expected to influence market conditions.

Experts suggest that if the US were to adopt Bitcoin as a strategic reserve asset, it could trigger significant price surges, with estimates of reaching $1 million per Bitcoin under such a scenario.

In a bold move, Senator Cynthia Lummis has introduced the Bitcoin Act, which proposes that the US government purchase one million Bitcoin over five years to tackle the national debt crisis.

Anthony Scaramucci has speculated that the US government might acquire up to 500,000 Bitcoin, which could significantly impact global trends in national Bitcoin ownership.

In response to the growing interest in cryptocurrencies, the Senate Banking Committee is establishing a digital assets subcommittee, with Senator Lummis potentially taking the chair.

Recently, on January 10, 2025, the SEC held a closed meeting to discuss various enforcement and litigation matters, likely including the critical deadline related to the Ripple case.

SEC Chair Gary Gensler is set to leave the agency on January 20, 2025, paving the way for Paul Atkins, nominated by Donald Trump, who may shift the SEC's stance on cryptocurrency enforcement.

There is growing speculation that the SEC may withdraw its appeal concerning the Ripple case following Gensler's departure, which could have significant implications for the crypto market.

The SEC's Office of Inspector General has been investigating potential conflicts of interest involving former Director William Hinman, particularly regarding his 2018 declaration that Bitcoin and Ethereum are not securities.

Hinman's connections to the law firm Simpson Thacher, which promotes Enterprise Ethereum, have raised ethical concerns, especially given his ongoing interactions with the firm during his tenure in crypto regulation.