President Donald Trump has signed a historic executive order, announcing the creation of a "Strategic Bitcoin Reserve" and "Digital Asset Stockpile" in the US. This decision is considered a major step towards officially including bitcoin in the US financial system.
Bitcoin is now part of global financial assets
The decision comes at a time when bitcoin has become the seventh most valuable asset in the world. Joe Burnett, head of market research at Unchained, called the move "the beginning of bitcoin's true integration into the financial system."
He said:
“Now, Bitcoin is becoming not just a digital asset but an important part of global financial stability. The US has accepted it as a safe depository, which will increase its influence even more in the future.”
Use of Bitcoins confiscated by the government
Trump's executive order clarifies that the government will initially include in the reserve those bitcoins that were seized in criminal cases.
But despite this, the price of bitcoin saw a huge drop after this announcement. Bitcoin fell from $90,400 to $84,979. Many investors expected the US government to buy additional bitcoins itself, but this did not happen, causing some disappointment in the market.
Will new Bitcoin-backed financial products arrive?
After the creation of Bitcoin reserves, many new Bitcoin-backed financial products may come to the market. According to experts, this may include bitcoin-backed loans, cross-border payment systems, and new solutions for traditional financial services.
Burnett said:
“Now we may see financial products that will be built on the basis of bitcoin. Countries that accept it quickly will move ahead, and those who hesitate will be left behind.”
Big announcements to be made from the White House Crypto Summit
The crypto world is now looking forward to the White House Crypto Summit on March 7, where the Trump administration will provide more details on Bitcoin reserves and digital asset reserves.
There is curiosity among crypto investors and analysts around the world about this decision. Now it will be interesting to see in which direction this move of America takes the global financial market.
This decision of the Trump administration has made it clear that Bitcoin is no longer just a digital asset, but has become an important pillar of the global financial system. In the coming times, many new financial products related to it can be seen in the market, which can open the door to new possibilities in the crypto market. #newscrypto