Main to remember
- The actions of companies related to cryptocurrencies have dropped with the price of digital assets on the latest movements of President Donald Trump.
- The cryptography market was affected by Trump’s decision to set up a federal Bitcoin strategic reserve without planning to buy more.
- The comments of the president of the Federal Reserve Jerome Powell according to which the Central Bank would adopt a waiting approach for future interest rate reductions while weighing the impact of Trump prices also affecting cryptocurrencies.
The actions of Strategy (MSTR) and other companies linked to cryptocurrencies have dropped with the price of digital documents on concerns about the federal Bitcoin reserve plan of President Donald Trump and the concerns about the American economy.
On Friday, Trump signed a decree establishing the new reserve, which, according to him, was one of his efforts to make America the “Cypto capital of the planet”. However, the proposal only calls for the reserve to include assets already seized by the government through legal action and does not suggest additional purchases.
Another factor weighing on the cryptography market is the economic impact of Trump prices, and the response by other countries, including the future of interest rates. Last week, the president of the federal reserve, Jerome Powell, said in a speech that decision -makers will have a waiting approach for prices reductions until the effect of the president’s movements is better understood.
The strategy, the biggest holder of the Bitcoin company, saw its shares flow 13% on Monday morning. The actions of the Crypto Coinbase Global (Coin) and Bitcoin Miner Mara Holdings (Mara) trading platform also dropped around 12% and 13% respectively.
