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International Business Times
International Business Times
Business
Marvie Basilan

$BTC Plummets Below $87,000 After Trump Announces Strategic Bitcoin Reserve – Expectations Not Met?

Bitcoin Donald Trump CoinGecko United States
The U.S. will finally have its own strategic Bitcoin reserve -- why is $BTC plunging then? (Credit: AFP)

KEY POINTS

  • $BTC bled nearly 5% Thursday night despite celebrations among Bitcoiners
  • Aside from a Bitcoin reserve, the US will also establish a digital asset stockpile
  • Some industry observers believe $BTC isn't rising because expectations of the reserve were too high

Bitcoin's price plunged below $87,000 Thursday night after U.S. President Donald Trump signed an executive order establishing a strategic Bitcoin reserve, raising questions on why the world's most valuable cryptocurrency was plummeting on such wonderful news.

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