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The market welcomed Trump's establishment of a strategic BTC reserve decree with a big Bearish line?!
Trump has already signed an executive order to establish a strategic BTC reserve, but why has BTC inserted a Bearish line? Hasn't it started to skyrocket? Maybe because Trump only uses the government's existing BTC to establish a strategic reserve, and did not say he would buy BTC as a reserve, which means there will be no manipulation. However, after becoming a strategic reserve, theoretically the United States should not sell these BTC to slam the market, which should theoretically be a bullish signal. What is a bit puzzling is that it seems that when the state governments are approving the BTC strategic reserve, they still need the approval of both houses of Congress, why doesn't the federal government need it? Why can Trump directly issue an executive order to establish it? The laws in the United States are really confusing.
On March 7, White House AI and cryptocurrency czar David Sacks posted on social media, "Just a few minutes ago, President Trump signed an executive order establishing a strategic BTC reserve. The reserve will be capitalized with BTC owned by the federal government, which are part of criminal or civil asset forfeiture proceedings. This means it will not cost taxpayers a penny.
It is estimated that the US government owns about 200,000 BTC; however, a full audit has never been conducted. An executive order requires a comprehensive account of the federal government's digital asset holdings. The US will not sell any BTC stored in reserves. It will be retained as a store of value. For cryptocurrencies commonly referred to as 'digital gold,' reserves are like digital Fort Knox.
In addition, the executive order also establishes the U.S. Digital Asset Reserve, which includes digital assets seized in criminal or civil litigation other than BTC. In addition to assets obtained through forfeiture proceedings, the government will not acquire other assets for the reserve assets. The purpose of the reserve is to manage government digital assets under the leadership of the Department of the Treasury.
How can it fall? After waiting for so long, the US strategic reserves have finally arrived. The White House crypto summit will be held tomorrow morning. Why the sudden Bearish line? Is this a deep squat before the jump? Should we bottom fish now? Who can analyze it? This morning, I sold my GT and bought Pepe, finally not losing money 😂😂