$BTC Bitwise Asset Management Chief Investment Officer Matt Hougan also reassured that the establishment of Bitcoin reserves reduces the likelihood of the government trying to eliminate the asset and greatly increases the chances of other countries adopting Bitcoin as a strategic reserve.

However, Charles Edwards, founder of hedge fund Capriole Investments, pointed out that this executive order is almost the worst outcome the industry could have anticipated; if there are no new purchasing plans, then the so-called reserves are just 'a pig dressed up nicely'.