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Bitcoin plunged 4% as an executive decree signed by American president Donald Trump to set up a strategic bitcoin reserve and a stock of digital assets disappointed with investors before the first summit of white house cryptography later in the day.
The Bitcoin Strategic Reserve will include around 200,000 bitcoins belonging to the federal government which was confiscated within the framework of the procedure for confiscating criminal or civilian assets, said TrumpThe crypto and the tsar of the David is released in a March 7 job on X.
Stocks of digital assets will be made up of cryptos other than Bitcoin which have been confiscated in criminal or civil procedures, and THE The government will not acquire additional assets beyond those obtained through confiscation procedures, have added bags.
“It is the most disappointing and disappointing result that we could have expected this week,” said Charles Edwards, founder of Digital Asset Hedge Fund Capriole Investments, in an article on X. “It is a pig in lipstick.
It is the most disappointing and most disappointing result that we could have expected this week. But not as surprising. It looks like no tangible BSR in 2025. No active purchase means that it is just a sophisticated title for Bitcoin Holdings that already existed with the government. It’s a pig in …
– Charles Edwards (@caprioleio) March 7, 2025
We to create a Knox digital fort
The government will seek to create “non -budgetary” strategies that can be used to acquire more bitcoin without any additional cost for American taxpayers, said Sacks.
He added that the BTC in the strategy Bitcoin The reserve will not be sold, the United States aimed at creating a “strong digital Knox”.
Sacks criticized the previous governments for having sold the bitcoin seized.
“Bitcoin’s premature sales have already cost taxpayers more than $ 17 billion in lost value,” he said.
The cryptography market plunges as the bags say No upcoming purchase for the strategic bitcoin reserve
Bitcoin dropped by almost 5% to less than $ 85,000 in the minutes that followed the decree and Ethereum (ETH), XRP, Cardano (ADA) and Solana (soil) all fell.
Bitcoin has for losses and is negotiated at $ 88,029.94 at 1 h 25 hne, according to CoinmarketCap.
Global market capitalization fell by almost 3.4% in the last 24 hours to 2.89 billions of dollars.
Sacks said that as Being part of Trump’s decree, the first complete audit of the assets of digital assets of the federal government will be carried out.
Trump’s decree was signed before the first summit of White House cryptography later during the day. It brings together more than two dozen heavy goods vehicles from the cryptographic industry, including Bitcoin Maxi Michael Saylor and CEO of Coinbase Brian Armstrong, to discuss the path to the industry.
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