Bitcoin Drops After Trump’s “Strategic Reserve” Order Disappoints

Bitcoin’s price fell by up to six percent on Thursday after President Trump’s executive order to create a “Strategic Bitcoin Reserve” failed to meet investor expectations. The cryptocurrency dipped to $84,900 before recovering slightly to $87,700. Investors were underwhelmed by the order’s lack of immediate government Bitcoin purchases. Trump’s plan, presented by crypto advisor David Sacks, involves funding the reserve with seized digital assets, avoiding taxpayer costs. The order also mandates an audit of the government’s Bitcoin holdings and directs the Treasury and Commerce to develop budget-neutral acquisition strategies. Despite Trump’s pro-crypto stance, which previously boosted Bitcoin to a record $109,071, concerns linger about his family’s substantial digital asset holdings. Critics continue to view Bitcoin’s volatility as a speculative bubble.