Bitcoin plunges as Trump’s strategic reserve fails to impress markets | Crypto
Cryptocurrency falls as much as 6 percent as lack of plans for government purchases disappoints investors.
United States President Donald Trump’s executive order to establish a Bitcoin strategic reserve and a stockpile of other digital assets has failed to impress crypto markets, with Bitcoin’s value plummeting following the announcement.
Bitcoin fell as much as 6 percent following Trump’s order on Thursday, which did not include plans for the government to actively buy Bitcoin.
After dropping as low as $84,900, the cryptocurrency was trading at about $87,700 as of 05:00 GMT.
In a statement announcing the order, Trump’s crypto tsar David Sacks said the “Strategic Bitcoin Reserve” and “Digital Asset Stockpile” would be…
