{"id":1237882,"date":"2025-03-07T13:41:38","date_gmt":"2025-03-07T18:41:38","guid":{"rendered":"https:\/\/www.prime-wow.com\/?p=1237882"},"modified":"2025-03-07T13:41:38","modified_gmt":"2025-03-07T18:41:38","slug":"trumps-federal-bitcoin-reserve-order-leaves-the-crypto-market-unenthused","status":"publish","type":"post","link":"https:\/\/www.prime-wow.com\/?p=1237882","title":{"rendered":"Trump’s federal Bitcoin reserve order leaves the crypto market unenthused"},"content":{"rendered":"
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With US stocks unstable<\/a>, consumer confidence in the economy plunging<\/a> and whispers of a potential recession growing less muted<\/a>, the economy under President Donald Trump’s second term has been about as stable as a recovering addict’s first week back on blow. With that turbulence as a backdrop, the cryptocurrency industry hoped Thursday’s executive order<\/a> establishing a federal Bitcoin reserve would at least spur a surge in the blockchain ecosystem. Instead, Bitcoin’s value has dropped sharply, and one crypto-focused hedge fund founder called Trump’s order “the most underwhelming and disappointing outcome we could have expected for this week.”<\/p>\n

After Trump posted in January that he would sign an executive order to establish a crypto stockpile, the market responded enthusiastically and prices rose accordingly. Bitcoin spiked<\/a> to an all-time high of over $109,000 in January (after surpassing the $100,000 mark for the first time<\/a> in early December).<\/p>\n

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On Friday, at its lowest point following Trump’s executive order, Bitcoin fell by around five percent to $85,000. It had recovered a bit at the time of publication but was still only hovering at around $88,000, a nearly 20 percent nosedive from its January high (and down over 2.2 percent on the day).<\/p>\n