The Bitcoin course fell last night, after Donald Trump signed a disappointing new executive order. He promised a national Bitcoin reserve in July 2024, but for now we only get a working group that is researching the possibilities and ultimately has to come up with an initial design.
No strategic bitcoin reserve
In addition, it is not yet a strategic bitcoin reserve, but a National Digital Asset Stockpile. That means that there could also be altcoins in the national reserve.
For that reason, the financial world seems to take this plan a little less seriously. Although it is a step forward for the sector, because at least people are now going to do research into the possibilities, this is not really what Bitcoiners were waiting for.
Shortly after the executive order was signed, the Bitcoin course reacted with a decrease to $ 102,220. At the time of writing, the Bitcoin course is slightly higher and above $ 103,000.
It was a volatile day
However, that decrease was not at the price explosion that we saw before Bitcoin, after the US Senator Cynthia Lummis on X published that “big things are coming” for Bitcoin.
As a result, people started to speculate en masse on the futures markets, and the Bitcoin sailed race to $ 106,850.
However, Lummis’s words were not about a strategic Bitcoin reserve, but about her appointment as chairman of the Senate Banking Subcommittee on Digital Assets.
This was stated in the official document: “The working group evaluates the possible construction and maintenance of a national reserve for digital assets and draws up criteria for the construction of such an inventory, possibly derived from cryptocurrencies that have been legally taken by the federal government through its law enforcement efforts ”
In the first instance, we do not even get a Bitcoin reserve in which the BTC seized by the US government would enter. There must also be consultation about this.
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Source: https://newsbit.nl/trump-creeert-nog-geen-strategic-bitcoin-reserve/
