- Trump signs an executive order officially creating a Bitcoin Strategic Reserve in the USA.
- The reserve will act as a digital Fort Knox to hold digital gold.
- Trump shows promise of keeping his crypto President title.
The crypto market is in a frenzy this morning as the President of the United States of America makes a bullish announcement. In detail, President Donald J. Trump signs an executive order officially creating a Bitcoin Strategic Reserve in the USA. While this is indeed bullish news for the crypto market as a whole, some remain wary of the move.
Trump Signs an Executive Order Officially Creating a Bitcoin Strategic Reserve
To highlight, Trump’s US Crypto Strategic Reserve announcement was teased earlier this week. Following this news, the price of Bitcoin went from $82,000 to $92,000 only to tumble back to the $82,000 price range once again. While analysts were disappointed to see the drop, they remained bullish expecting Bitcoin to recover at the end of this deep, prolonged market correction.
Meanwhile, Trump showed no rest in his pursuit to make the USA a crypto hub and earn his title as the first crypto President of the United States of America. Soon after the initial announcement, Trump announced a Crypto Summit at the White House, the first-of-its-kind event is gathering reputed faces in the crypto industry, perhaps this Friday, following the event, the crypto market will see some bullish movement.
The Reserve Will Act as a Digital Fort Knox to Store Digital Gold
All in all, as we can see from the post above, Trump signs the executive order officially creating a Bitcoin Strategic Reserve indicating the historic move to fulfil his promise of stockpiling Bitcoin. The reserve is compared to be a digital Fort Knox for digital gold, in the hopes of delivering a long-term strategy to improve the lives of its citizens.
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