The reserve will be funded exclusively by bitcoins confiscated in criminal and civil cases.
US president Donald Trump on March 6 signed an order in the creation of a strategic reserves of Bitcoins. In response to this, the cryptocurrency market sank. Bloomberg reported it.
Despite the fact that the leaders of crypto companies have published enthusiastic posts on this score on social networks, Bitcoin currently fell by about 6%. Four other digital tokens previously mentioned by Trump – Ether, XRP, Cardano and Solana – fell at least 3%.
Trump fulfilled his promise given during the election campaign, but the reaction of the market was negative – the details of the command did not come to life until the expectations of the industry.
The order states that the government will not use taxpayers’ money to finance the strategic reserve of the largest digital asset. In this regard, the reserve will benefit the bitcoins belonging to the federal government.
The US government controls about 200 thousand bitcoins, even though a full audit is not yet performed. Trump’s command is grateful for a detailed accounting of all federal digital assets and prohibits the sale of bitcoins from the reserve.
Trump’s command also introduces the creation of a strategic stock of US digital assets, which is under the management of the Ministry of Finance and maintaining other confiscated cryptocurrencies.
The United States owns Bitcoins for about $ 16.4 billion and tokens for about $ 400 million, mainly due to the confiscation of confiscation related to civil and criminal cases.
Remember, on March 5, Bitcoin exceeded $ 90,000 in the price of how Trump stored the introduction of duties to cars from Canada and Mexico.
Bitcoin fell under the psychological line after Trump’s command
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.