Bitcoin fell 3.4% to $ 86,394 after the White House Digital Assets Summit, where President Donald Trump signed an executive order to establish a strategic Bitcoin reserve, but did not provide clear details about future government cryptography acquisitions.
- Investors were disappointed by the lack of clarity of the summit, since the markets had anticipated a stronger commitment to the expansion of the reserve.
High profile assistants but few answers
Prominent guests
The summit brought Together industry key figures, including
- Ripple Ceo Brad Garlinghouse
- CEO of Coinbase Brian Armstrong
- Kraken Arjun Sethi CEO
- Robinhood Vlad Tenev CEO
- Chainlink Labs Sergey Nazarov co -founder
It is easy to get lost in part of the noise induced by the maxi, but there is much more in this industry than internal struggles and a currency versus another rhetoric that passes time.
As we have always done, we will continue to defend the need for a level playing field (and it was great to listen to others in the room echoing this too!) And that the industry meets to advance in the United States.
Brad Garlinghouse, Ripple
How will the United States establish the Bitcoin Reserve?
David Sacks, the Cryptographic Tsar of the White House, described that the Bitcoin reserve of the United States government would be financed using Bitcoin seized of assets loss, not taxpayers dollars.
- In addition, a reserve of US digital assets would be created to administer other digital assets acquired in a similar way.
Why are XRP, Sol and Ada?
David Sacks clarified why XRP, Solana (Sol) and Cardano (ADA) were mentioned in Trump’s initial announcement of a digital asset reserve:
Trump cryptographic stockpile: market capitalization dictates inclusion
- According to Sacks, these tokens were included simply because they are among the five main cryptocurrencies for market capitalization, without deeper importance beyond that classification.
In addition, he declared the possibility of providing or rethinking the government’s cryptography assets, with the Treasury Department that manages the strategies of rebalancing and sales to serve long -term interest.
The market reacts to the lack of concrete plans
Despite the summit approach in industry support, the market was not impressed.
- Investors reacted negatively to lack of details on whether the United States government would actively buy Bitcoin or simply maintain their existing holdings.
- This uncertainty contributed to the decrease in Bitcoin’s prices, which erased most of the profits achieved after Trump’s initial announcement from a US crypto reserve.
In an attempt to address the concerns, the Office of the Comptroller of the Currency (Occ) made a separate ad, stating that banks can now participate in certain activities related to cryptographic without prior regulatory approval.
- This policy change is expected to provide US financial institutions participating in the cryptography market.
Trump reaffirms the cryptographic commitment
During his speech, Trump emphasized that the United States would no longer sell their Bitcoin holdings, criticizing past government sales that he had cost to taxpayers billions in the lost value.
- He described the reserve as a “Fort Digital Knox” and promised to make the United States the “cryptographic capital of the world.”
However, market analysts remained cautious, and some pointed out that, although Trump’s pro-crypt position is an important change of the previous administration, investors expected more than a rhetoric, especially with respect to the acquisitions of government Bitcoins and a broader cryptographic regulation.
This article is published in bitpins: Bitcoin falls 3.4%, since Trump’s cryptographic summit lacks key details
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