$BTC
As of March 7, 2025, Bitcoin (BTC) is trading at approximately $88,614, reflecting a slight decrease of 2.3% from the previous close.
In a historic move, President Donald Trump signed an executive order establishing a U.S. Strategic Bitcoin Reserve, comprising approximately 200,000 bitcoins seized in legal proceedings. This initiative aims to consolidate and manage these assets effectively, with David Sacks appointed as the "crypto czar."
Initially, Bitcoin's price experienced a 6.6% drop following the announcement, as the reserve will include only seized assets, not new acquisitions. However, prices have since stabilized around $88,614.
The White House is also hosting its first crypto summit, bringing together industry leaders to discuss the future of digital assets.
These developments underscore the U.S. government's evolving approach to cryptocurrency regulation and adoption.