It is reported that US President Trump called advisers to the war situation room, and as a result, the price of Bitcoin dropped. This incident has drawn market attention because Trump’s related actions may imply a change in the policy or attitude of the US government in the cryptocurrency field.
Previously, Trump’s attitude towards cryptocurrencies has drawn much attention. At the 2024 Bitcoin Conference, Trump stated that if he won the election, he would establish a crypto presidential advisory committee and build a national Bitcoin “reserve” with the cryptocurrencies seized by the government. He also said that he would fire Gary Gensler, the chairperson of the US Securities and Exchange Commission (SEC), on his first day in office. These remarks had driven up the price of Bitcoin. However, some related events that followed led to fluctuations in the price of Bitcoin. For instance, White House artificial intelligence and cryptocurrency advisor Sachs clarified that the crypto strategic reserves mentioned by Trump were not a formal commitment, which dampened market optimism and caused the price of Bitcoin to fall. The executive order signed by Trump on the 6th to establish a strategic Bitcoin reserve failed to meet market expectations as it did not require the government to repurchase cryptocurrencies from the market, which also led to a rapid decline in the price of Bitcoin.
This time, Trump called advisers to the war room, and the market was worried that it might be related to cryptocurrency policy. The uncertainty of investors increased, which in turn triggered a decline in the price of Bitcoin. However, it is still unclear the specific reasons for Trump’s call for advisers and the content of the discussions. The subsequent trend of Bitcoin’s price remains to be seen.
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