A recent executive order from President Trump aiming to establish a strategic Bitcoin reserve has failed to bolster the cryptocurrency market. Bitcoin's value experienced a drop following the announcement due to the absence of explicit government plans to actively purchase the digital asset. The proposed reserve, intended to function like a 'digital Fort Knox', would be capitalised through forfeited assets from criminal or civil proceedings, meaning there would be no expense to taxpayers. Analysts have expressed disappointment, noting the lack of new Bitcoin acquisitions unless achieved in a revenue-neutral way. The US government currently holds approximately 200,000 Bitcoin, and the executive order seeks a full audit of federal digital asset holdings, as well as creating a separate stockpile of other digital assets.
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