Less than a week after mentioning his administration’s intention to create a Bitcoin and crypto reserve, President Donald Trump signed an executive order yesterday, officially establishing the initiative.
The signing came less than 24 hours before the highly anticipated White House Crypto Summit. The president will host the event and leading crypto founders, CEOs, policymakers, and other heavyweights are set to attend.
Interestingly, even with the president creating the Bitcoin Reserve, crypto and BTC prices are down at spot rates. The world’s most valuable coin is trending below $90,000, selling off to below $88,000. Meanwhile, top altcoins—including some of the best cryptos to buy in 2025, such as Cardano and Solana—are sliding from this week’s highs.
This price action, in the face of bullish news, explains why some consider the executive order a textbook “sell the news” event and a potential basis for further price losses in the days ahead.
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Strategic Bitcoin Reserve: Details
Undoubtedly, the executive order signals a major shift in United States policy on cryptocurrency matters. Crucially, it positions the country as a leader in the industry, a trend other nations will likely follow.
In a post on X, David Sacks, the White House Crypto and AI Czar, said the Bitcoin Reserve will be primarily funded using BTC already in federal possession—coins seized from criminals and scammers.
Just a few minutes ago, President Trump signed an Executive Order to establish a Strategic Bitcoin Reserve.
The Reserve will be capitalized with Bitcoin owned by the federal government that was forfeited as part of criminal or civil asset forfeiture proceedings. This means it…
— David Sacks (@davidsacks47) March 7, 2025
This means that contrary to the crypto community’s hopes, the government won’t immediately actively buy BTC from the secondary market using taxpayers’ money.
However, Sacks noted that in the coming months, or even years, Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick were directed to explore budget-neutral strategies for acquiring additional Bitcoin.
According to Bitcoin Treasuries data, the United States government controls 198,109 BTC. A significant portion was seized from Bitfinex hackers and Silk Road, whose founder, Ross Ulbricht, was recently pardoned and released from prison by President Trump.
As part of this executive order, President Trump also directed an audit of all government crypto holdings.
By moving this stash to the Bitcoin Reserve, the government won’t liquidate it, aligning with Trump’s campaign promise. BTC held in the reserve will be HODLed.
Sacks described the reserve as similar to Fort Knox for gold, but this time for Bitcoin.
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Why Is Bitcoin Down?
On the surface, this executive order is bullish for the crypto market. The United States is legitimizing Bitcoin and recognizes it as an asset class that can be considered a store of value.
From a price action perspective, BTC was expected to trend higher, but that has not been the case.
According to Coingecko, Bitcoin is down 5% in the last 24 hours and is currently stuck in a range between $85,000 and around $90,000.
The slide stems from trader disappointment, as many expected the government to begin actively buying BTC to bolster its reserve.
Now that immediate purchases are off the table, those who bought on the news of this reserve are likely unwinding their positions, adding more selling pressure to the coin.
Combined with the fact that Bitcoin is in a corrective phase, it’s highly likely that it will struggle to break $90,000 and $100,000 in the coming sessions. A dip below $78,000 and 2025 lows could trigger panic selling, pushing prices toward the $50,000 zone.
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- President Donald Trump signs executive order establishing a Bitcoin Reserve
- David Sacks clarifies that BTC will be mostly from those seized from criminals
- BTC Bull presale raises over $2.7 million
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