Cryptocurrency prices fell on Friday as an executive order from President Donald Trump to establish a US strategic bitcoin reserve left investors disappointed the plan would not trigger a wave of large-scale government purchases of digital assets.
The price of bitcoin dropped as much as 6.6 per cent before rebounding slightly to trade around $89,000 after the order, signed late on Thursday, said the reserve would hold only assets that had been forfeited to US law enforcement authorities.
Traders had hoped the US government would begin buying bitcoin and other cryptocurrencies, after Trump ignited hopes with a social media…
