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Trump Signs Order for U.S. Bitcoin Reserve—But There’s a Catch…
In a surprise move, United States President Donald Trump has taken the unprecedented step of signing an executive order to establish a strategic reserve of digital assets, leveraging existing government-held cryptocurrency assets rather than acquiring new ones. This move falls short of market expectations for fresh purchases and is likely to have significant implications for the global cryptocurrency market.
The announcement comes amidst growing speculation regarding the potential creation of a U.S. Bitcoin Reserve. Market predictions have shifted from 24% to 32%, according to Polymarket data, fueling discussions across several states, including Utah, Arizona, and Ohio. However, not all states are on board; South Dakota and Montana, among others, have outright rejected related legislative efforts.
The development is significant, as it signals a shifting regulatory landscape with far-reaching implications for Bitcoin [BTC] and the broader digital asset market. The move has sparked heated debates across the cryptocurrency community, with some hailing it as a bold step forward while others are skeptical of its potential impact.
While this executive order may have sparked excitement in some corners, there’s more to it than initially meets the eye. Declining exchange reserves have been observed, indicating a supply squeeze that could have far-reaching consequences for the market.
The data provided by Moon Whales highlights this trend, as it shows an alarming decline in exchange reserves. Further validation comes from CryptoQuant, which underscores the importance of this development.
Source: https://ambcrypto.com/trump-signs-order-for-u-s-bitcoin-reserve-but-theres-a-catch
