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Bitcoin fell on Monday as variability of the price of the world's largest cryptocurrency continues after Executive ordinance signed by President Donald Trump To create a strategic Bitcoin reserve for the United States.
Bitcoin traded USD 81,712, which is over 5%, but discounts earlier, at 9:42 in Singapore, according to Metrics Coin.
The reserve will be financed from coins that have been occupied in criminal and civic matters, and the US government has no plans to buy more bitcoins. After the announcement of the strategic reserve last Thursday, Cryptographic prices have fallen Because investors were disappointed More aggressive program.
Other cryptocurrency prices also fell on Monday. Both ether AND XRP He fell about 7.5% around 9:43 in Singapore.
However, some investors said that the establishment of the reserve was stubborn in the long term.
“I absolutely think that the market is bad,” said Matt Hougan, director of investment in BitWise Asset Management on Monday, said CNBC “Squawk Box Asia” on Monday. “The market is short -term disappointed” that the government did not say that it will immediately start purchasing 100,000 or 200,000 bitcoins, he added.
Hougan pointed to comments On X with Crypto White House and AI, the spell of David Sacks, which said that the US would look for “neutral strategies under the budget for obtaining additional bitcoins, provided that these strategies do not have additional costs for American taxpayers.”
“I think the right question is: has this executive order increased the likelihood that in the future Bitcoin will be a geopolitically important currency or activist? Will other governments want to follow the main and build their own strategic reserve? And for me the answer is definitely yes, “said Hougan.
“The reason why issues matter is the question that determines whether Bitcoin costs USD 80,000 per coin or USD 1 million per coin.”
Hougan called a decrease in cryptographic prices “short -term failure”.
“I think that the market will soon find its position and realize that it is extremely stubborn long -term for this resource and for all cryptocurrencies,” he said.