$BTC

On March 7th at around 8 AM, just before the White House Crypto Summit, David Sacks, the White House AI and Crypto Director, officially stated: "President Trump has signed an executive order to establish a strategic Bitcoin reserve for the United States. This reserve will use Bitcoin obtained by the government through asset forfeiture procedures and will not increase the burden on taxpayers." Possibly influenced by this news, the market interpreted it as "good news turning into bad news," with BTC prices plummeting from over $90,000 to around $84,000. As of the time of writing, it has recovered to above $87,000.

Odaily Planet Daily will provide a brief interpretation of this presidential executive order in this article, along with a summary of mainstream opinions from industry professionals, in anticipation of the upcoming White House Crypto Summit scheduled for around 3 AM tomorrow, for readers' reference.