Still, the short-term investor disappointment paired with ongoing macroeconomic concerns related to import tariffs may push Bitcoin to a weekly close below $82,000, risking more downside volatility, analysts told Cointelegraph. Related: US Bitcoin reserve marks ‘real step’ toward global financial integrationWhite House Crypto Summit “dramatic shift” from Biden administrationTrump signed the historic Bitcoin reserve order a day ahead of hosting the first White House Crypto Summit, which also received mixed reactions from the crypto community.
Source: Cointelegraph“It was very clear that the US government could utilize the existing BTC in their possession, aka seized funds,” she told Cointelegraph, adding:“It is bizarre to see such a big public disappointment coming from some industry players.[...] Not that long ago, even the idea of BTC Reserve held and supported by a federal government was a revolutionary idea, and now we see a very solid implementation.”The Bitcoin reserve is a “cautious” approach with taxpayer funds, which “make this decision well aligned with the messaging from this administration,” added the regulatory expert.
Urbelis told Cointelegraph:“The very fact that the summit is happening is a dramatic shift from the hands-off approach of the Biden Administration and is sure to resound with the blockchain community as well as younger voters.“Related: Trump turned crypto from ‘oppressed industry’ to ‘centerpiece’ of US strategy“There are high hopes for the outcome of the Crypto Summit.
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Author / Journalist: Cointelegraph by Zoltan Vardai
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