Crypto takes a dip as Trump signs Bitcoin Reserve order

Comment It's official: President Donald Trump signed an executive order Thursday to create a US Bitcoin reserve and stockpile of related digital assets, though instead of boosting the value of the coins, the market reacted negatively to the news.

Bitcoin, Ethereum, and other crypto tumbled, and recovered somewhat, as people processed the announcement. It should be noted the markets in general in the United States are down at the moment due in large part to the White House flip-flopping on import tariffs against America's neighbors and allies. It's therefore not just unhappiness with the President's approach to Uncle Sam holding digital assets that's driving down the value of cryptocurrencies.

Trump's executive order boils down to this: The Treasury Department has been ordered to establish two funds, a Strategic Bitcoin Reserve and a Digital Asset Stockpile. Both are being populated with cryptocurrencies that the federal ...