The crypto prices fall despite Trump's Bitcoin Reserve Plan
The crypto prices fall despite Trump's Bitcoin Reserve Plan
- Bitcoin traded at around 88,000 US dollars and fell by 1.50%in the last 24 hours
- Ethereum, XRP, Solana and Cardano also recorded the prices
- td cowan analysts consider it as a "compromise" and the reserve is a positive change from the white house
The crypto prices remained unchanged on Friday after US President Donald Trump signed an executive regulation in which a strategic Bitcoin reserve was set up.
Data from CoinmarketCAP show that Bitcoin is around 88,000 US dollars in the last 24 hours and drops more than 1.50%.
Ethereum, XRP, Solana and Cardano have also remained relatively flat according to the news. Solana recorded the largest decline of 5% over 24 hours and is currently $ 142. At the beginning of this month, Trump revealed that these would be the coins contained in the crypto reserve.
In particular, these coins were not mentioned in Trump's executive order in which a strategic Bitcoin reserve and a digital asset stockpile were described, which he signed on March 6th.
a "compromise"
In a post on X -Zar David Sacks said:
"The reserve is activated with Bitcoin of the federal government, which expires in the conviction of the criminal or civil law assets. This means that taxpayers do not cost a cent."
A few minutes ago President Trump signed an executive order to build a strategic Bitcoin reserve.
The reserve is activated with Bitcoin of the federal government, which expires in the context of the conviction of the criminal or civil law assets. That means ...
- David Sacks (@Davidsacks47) 7. March 2025
sacks also stated that the executive regulation authorized the secretaries of finance ministries and trade to "develop budget -neutral strategies for the purchase of additional Bitcoin, provided that these strategies have no incremental costs for American taxpayers."
As a reaction to it, Michael Saylor, chairman and CEO of strategy, I have a couple Budget -neutral strategies to acquire additional Bitcoin. ”
With the news of the strategic Bitcoin reserve, which does not drive the prices higher, TD cowen analysts House and added:
"We see this as a compromise. The government does not spend any taxpayers' dollars to acquire new digital assets. It is simply not the one that captures it."
Source: Coinlist.me