
Bitcoin sinks after Trump’s executive order disappoints market
strategic Bitcoin reserve and a stockpile of other digital assets, according to a post on X by White House crypto czar David Sacks.
Bitcoin and other tokens fell as Sacks said that taxpayer money would not be spent to acquire cryptocurrencies for either.
The reserve will be capitalized with Bitcoin already owned by the federal government that was forfeited as part of criminal or civil proceedings and the US will not sell any of the cryptocurrency deposited into it, Sacks said in the post. The order authorizes the secretaries of Treasury and commerce to develop “budget-neutral strategies” for acquiring additional Bitcoin, provided there is no incremental cost to American taxpayers, Sacks wrote.
JUST NOW!
President Trump signs an Executive Order establishing the Strategic Bitcoin Reserve and U.S. Digital Asset Stockpile