📉 Bitcoin price movements
Bitcoin has experienced significant volatility during the day, briefly exceeding $95,500 before falling back below $94,000. This decline led to a nearly 2% drop in Bitcoin-linked exchange-traded funds, while shares of cryptocurrency companies like Coinbase saw a decline of more than 5%.
🇺🇸 The U.S. Strategic Bitcoin Reserve
In an unprecedented move, U.S. President Donald Trump signed an executive order in March 2025 to create the 'Strategic Bitcoin Reserve,' aimed at storing Bitcoin as a national reserve asset. This reserve is funded by digital assets seized by the government, and it is estimated that the United States currently owns about 200,000 Bitcoins, making it the largest known government holder of this currency.
Although the announcement did not immediately impact the price of Bitcoin, the currency later regained its strength in April, surpassing the $95,000 mark. This move is believed to enhance institutional investor confidence in the digital currency market in the long term.
🌍 Increasing global adoption of digital currencies
Several countries are seeking to explore the possibility of including Bitcoin in their national reserves. For example, India has announced a review of its stance on digital currencies, while the Czech Republic is considering allocating up to 5% of its reserves to Bitcoin. Countries like Russia, Argentina, and Brazil are also studying similar proposals.
🇸🇦 The situation in Saudi Arabia
So far, Saudi Arabia has not issued any official statements regarding the adoption of Bitcoin as a reserve asset or as legal tender. However, global developments may stimulate local discussions about the future of digital currencies in the Kingdom.