Under pressure from his donors and torn by contradictions among cabinet members, Trump has just signed a fictitious decree to create a Strategic Bitcoin Reserve, using bitcoins that ALREADY belong to the government.
🔵 The decree does indeed allow for the acquisition of additional bitcoins, but only if they are obtained for free. It seems this means that if the government confiscates more $BTC, it can keep them.
⚡⚡⚡ But new purchases are not allowed, as buying by definition requires payment.
🔵 One can argue whether the government can buy more bitcoins for the strategic reserve, but one thing in the decree is crystal clear: the cryptocurrency stock will consist only of confiscated coins, meaning no $ETH , $XRP , $ADA, or $SOL will be purchased. At least that is encouraging!
❗️ It's a pity that Trump allowed scammers from the crypto industry to take control of his presidency. This casts a shadow over all his other endeavors.
And here comes the explanation of why the market reacted with a decline...
