The White House celebrated the first cryptocurrency market in history on Friday. However, regardless of price, the price of Bitcoin has still become lower.
RBC-Ukraine reported this to NBC News.
As you can see, the industry itself has gathered industry leaders to become the largest group of donors in the 2024 elections. This approach was intended to confirm the desire of the administration of US President Donald Trump to create the United States as the “crypto capital of the world.” In addition, they are officially convinced of the harsh regulation of the government, which was introduced for the former President Joe Biden.
However, investors apparently realized more. After the end of the day, the price of Bitcoin fell by 4%, and last year fell by about 8%.
What caused the falling prices
Apparently, David Sachs, the White House’s chief cryptocurrency specialist, was responsible for the fall in the price of Bitcoin.
Zokrema, the President of the United States, signed a decree on the creation of a “strategic reserve of bitcoins.” A few hours later, Sachs clarified that the United States has no active plans for additional purchases of cryptocurrency.
Instead, the warehouse reserve is made up of obvious stocks of bitcoins confiscated by law enforcement agencies from suspects or seized during the time of civil investigations.
In addition, Jeff Park, a senior executive at the Bitcoin investment group Bitwise, received a strong reaction to the stream, calling the details of the decree “an imperfect result.”
“The presidential decree is a completely political directive that can be deprived of dignity or come into being so easily, like Biden’s decree on gender-affirmative assistance for minors or another order on the division of the Chinese industry… Without legislator support that reflects the will of the community and political coalitions, but is unlikely to become a turning point that will lead to the discovery of large-scale inheritances,” wrote social media manager X.
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