#BitcoinPolicyShift Bitcoin fell after U.S. President Donald Trump's executive order disappointed the markets. The decline of cryptocurrencies reflects the bearish trend of U.S. stock markets amid fears of a growing global trade war.

U.S. President Donald Trump signed an executive order on Thursday to establish a Strategic Reserve of Bitcoin, according to the White House's cryptocurrency and artificial intelligence czar, David Sacks, in a post on X.

The measure marks the fulfillment of an important policy by the U.S. president, in line with his campaign promise to "make the United States the global capital of cryptocurrencies."

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Markets disappointed by Trump's order

Despite initial expectations, the announcement did not give Bitcoin a significant boost. The price of Bitcoin initially fell from over $90,000 (€83,290) to approximately $84,600 (€78,300), before recovering to around $87,000 (€80,520) at 5 am CET.

The order disappointed cryptocurrency enthusiasts, as Sacks stated in the post that the Reserve would be capitalized with Bitcoin owned by the federal government from criminal and civil forfeiture cases, and that taxpayer money would not be used to acquire cryptocurrencies. "The government will not acquire additional assets for the Reserve beyond those obtained through forfeiture proceedings," he stated.