Prior to the White House’s Crypto Summit on Friday, President Donald Trump signed an executive order in which the Strategic BitCoin reserve was established. Fact sheet The United States has been claimed to make its promise to make the “world’s crypto capital”.
Trump’s ruling is currently needed by all federal agencies who are currently taking seizure of bitcoin, as part of a criminal or civilian asset to move these bitcoins to the Treasury Department, which has a reservoir of Bit Coins itself. In addition, any other digital assets confiscated will be deposited in separate digital assets.
But when Trump is likely to be more than Bitcoin fans about the news. The announcement of its Reserve and Louiser Crypto Regulations helped send Bitcoin price in January 9 109,000, Reuters NotedCry was clearly disappointed with some cryptocurrency enthusiasts that Trump’s ruling confirmed that the United States did not have any plans to buy more bitcoins at the moment.
According to Reuters, the price of bitcoin on this news dropped shortly 5 % to $ 85,000. Charles Edward, who is the founder of the BitCoin -based hedge fund, called Caprival Investment, taken in x (Former Twitter) To declare that Trump’s ruling “is a pig in lipstick.” Currently, Bitcoin costs about $ 90,500.
Edwards wrote, “This is the worst and disappointing result we could expect this week.” “Any active purchase does not mean that this is just a fancy title for bitcoin holdings that were already there” with the government.
Andrew O’Nail, Managing Director of Digital Asset at S&P Global Ratings, agreed, saying that the “importance” of Trump’s order was primarily symbolic and that no timeline was provided for it when more bits were obtained by the United States.
In the facts sheet, the White House insisted that the storage of strategic reserves and digital assets “would allow the power of digital assets for national prosperity instead.”