Bitcoin fell by about 6% after US President Donald Trump signed an executive order to establish the Bitcoins strategic reserve.
Market participants hoped that the government would announce a plan to buy more Bitcoins (BTC), but the cryptographic Trump David Work he said On X he would only utilize bitcoins, which he already has in criminal matters-although he will try to develop “neutral for the budget” to obtain additional bitcoins.
Bitcoin Slajs after announcement
Bitcoin dropped by about 6%, falling from USD 90,400 to USD 84,979, according to Coinmarketcap data.
Since then, Bitcoin has slightly recovered, trading at USD 86 460 at the time of publication. Source: Coinmarketcap
Trade resources account KOBEISSI he said The reason for the decline in Bitcoin prices was “there was no explanation of how the reserve would be financed in addition to Bitcoin already owned by the USA.”
Ether (ETH), XRP (XRP), Solana (SOL) and Cardano (ADA) also came across messages after the bags confirmed that “American actions of digital assets” appears, but also consist only of digital assets lost in criminal or civil proceedings.
“The government will not get additional assets for shares except a thousand obtained as part of the proximity in the forfeiture,” said Sacks.
In the first hour after the bag was announced, the ether fell by 4%, XRP fell by 7%, Solana fell by 5.14%, and Cardano fell by 9.19%.
Industry participants see positive
Although this may not be the most confident advertisement for the industry, some were surprised that the price of Bitcoin fell after the announcement.
CEO ELECTRIC CAPITAL AVICHAL he said In post X soon after hell sells news about the American strategic Bitcoin reserve?! “
Source: Walker
Repeated a similar sentiment, a nickname cryptographic trader ash Crypto said in post“It’s not a pile of gossip, sell an information event, each country will soon take place, and Bitcoin will be $ 250,000”
Dennis Porter Satoshi Action Fund in addition“This market is far away. “Strategic Bitcoin Reserve” will have “additional Bitcoin acquisitions”.
Other participants agree that this is a positive step that will only strengthen the greater reception of Bitcoins.
Source: Matt Hougan
