Summary
- President Trump announced that he signed an executive order defining Bitcoin as digital gold.
- Analysis suggests that Bitcoin's position has been strengthened as the U.S. government decided to strategically stockpile seized Bitcoin and other cryptocurrencies.
- President Trump stated that this decision to stockpile Bitcoin is already reflected in the market.
Analysis suggests that Bitcoin (BTC)'s position has been significantly strengthened as U.S. President Donald Trump decided to strategically stockpile cryptocurrencies.
On the 7th, Darkfost, a CryptoQuant contributor, stated via X, "The U.S. government has decided to hold onto seized Bitcoin and other cryptocurrencies," adding that "(Trump's) executive order clearly defines Bitcoin as 'digital gold'." President Trump signed an executive order that day to strategically stockpile Bitcoin and other cryptocurrencies.
He added, "Personally, I didn't expect an announcement about additional (Bitcoin) purchases," saying "(this announcement) is already reflected in the market."
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
