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Bitcoin plunged 4% with the administrative order signed by US President Donald Trump, and strategic Bitcoin protection zones and digital asset stocks overwhelmed investors ahead of the White House encryption summit today.
Strategic Bitcoin Protection Area will be composed of about 200,000 Bitcoin owned by the federal government, which is confiscated as part of a crime or civil asset confiscation process, Trump said.March 7 Crypto and AI Czar David Sacks mail X.
Digital asset stocks are composed of passwords other than Bitcoin confiscated in criminal or civil litigation. that SACKS added that the government will not acquire additional assets beyond the assets obtained through the confiscation process, SACKS added.
“This is the most overwhelming and disappointing result we can expect this week,” said Digital Asset Hedge Fund Capriole Investments. This is a pig on the lipstick. ”
This is the overwhelming and disappointing result we expected this week. But it’s not surprising. It seems that there is no type of BSR in 2025. The lack of active purchase is just a wonderful title of Bitcoin Holdings, which had already existed with GOVT. This is… https://t.co/kbxukd83g8
Charles Edwards (@caprioleio) March 7, 2025
We made digital port Knox
The government will try to create a “budget neutral” strategy that can be used to acquire more bitcoin without the cost of incremental of taxpayers, SACKS said.
He strategically added BTC Bitcoin The United States will not sell the US to create “Digital Port Knox”.
The sack hit the previous government for selling seized Bitcoin.
“Early sales of Bitcoin have already lost more than $ 17 billion in US taxpayers.”
As Sacks said, the encryption market plummeted. There is no upcoming purchase for strategic bitcoin protection zones.
Bitcoin has fallen to less than $ 85,000 in almost 5%for a few minutes, with executive commands and Etherrium (ETH), XRP, Cardano (ADA) and Solana (SOL).
Bitcoin has been lost since then According to CoinmarketCap, it is traded at $ 88,029.94 based on EST 1:25 EST.
The total market capitalization has plummeted to $ 2.89 trillion, nearly 3.4%over the last 24 hours.
SACKS said so The first audit of the federal government’s retention of digital assets, which is part of the Trump administrative order, is performed.
Trump’s administrative order was signed late today at the White House encryption summit. More than 20 encryption industry heavyweight players, including Bitcoin Maxi Michael Saylor and Coinbase CEO, Brian Armstrong, discuss the industry’s path.
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