Key Points
- Cryptocurrency prices fell on Monday as volatility in prices continued after an executive order signed by President Donald Trump to create a U.S. strategic bitcoin reserve disappointed investors.
- Bitcoin, ether and XRP all declined.
Bitcoin
After signing an executive order by President Donald Trump to establish a strategic bitcoin reserve for the United States, the price of the largest cryptocurrency in the world continued on Monday, which led to the price to fall. At 9:42 am, Bitcoin was trading at $ 81,712, which was more than 5% of the earlier climb. The coin metrix indicates the time of Singapore. Criminal and civilian seized coins will be used to fund the reserve in seized cases, and the United States government will not buy additional bitcoins.
Investors were disappointed that the announcement of a strategic reserve on Thursday did not result in a more aggressive program, causing a fall in the prices of crypto. On Monday, other cryptocurrency prices also fell. Each Ether XRP was about 7.5 percent less in Singapore at 9:43 am. However, some investors claimed that the decision to establish the reserve was positive in the long run. Matt Hogan, Chief Investment Officer of Bitwaiz Asset Management, said on Experssepaper “Squalk Box Asia” on Monday, “I think it’s wrong in the market.” “The market is so short-lived” that the government did not announce that it would immediately start getting 100,000 or 200,000 bitcoins,
“he said. Hogan cited Artificial Intelligence about the White House Crypto and Artificial Intelligence, which commented on the X, stating that he said the United States “would seek budget-foot strategies to obtain additional bitcoins, provided that there is no incremental cost on American taxpayers.” “I think the appropriate question to ask is whether this executive order increased the possibility that bitcoin would be a currency or property of geopolitical importance in the future.” Will other governments try to make their own strategy?
- Bitcoin
- ether
- XRP
- Crypto