Cryptocurrency falls as much as 6 percent as lack of plans for government purchases disappoints investors.

Author: Al Jazeera
Published on: 07/03/2025 | 00:00:00

AI Summary:
Trump’s order to establish a Bitcoin strategic reserve and a stockpile of other digital assets failed to impress crypto markets. Bitcoin was trading at about $87,700 as of 05:00 GMT after dropping as low as $84,900. The order also called for the Secretaries of Treasury and Commerce to develop “budget-neutral strategies for acquiring additional Bitcoin”. The US owns an estimated 200,000 Bitcoin seized during criminal and civil forfeiture. Sacks suggested the reserve would function like a “digital Fort Knox” by helping Bitcoin retain its value. That stockpile could include tokens such as ether, XRP and Solana.

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