President Donald Trump signed an executive order creating a Strategic Bitcoin Reserve and a Digital Asset Stockpile, marking the first major step toward integrating Bitcoin into the US financial system.
Trump’s executive order outlined a plan to initially use cryptocurrency forfeited in government criminal cases, Cointelegraph reported on March 7.
As one of the crypto industry’s most widely-anticipated moves, the Strategic Bitcoin (BTC) Reserve marks the first “real step” for Bitcoin’s integration into the global financial system, according to Joe Burnett, head of market research at Unchained.
Source: Margo Martin
“The Bitcoin integration era has begun,” Brunett told Cointelegraph, adding:
“Now, with the establishment of a Bitcoin Strategic Reserve, the US has taken its first real step toward integrating Bitcoin into the fabric of global finance, acknowledging its role as a foundational asset for a more stable and sound monetary system.”
Despite the historic executive order, Bitcoin plunged over 6% after the announcement, falling from $90,400 to $84,979. Many investors had anticipated the government would announce a plan to purchase additional Bitcoin, leading to short-term disappointment.
Despite the disappointment, the executive order marked a significant pivot that confirmed Bitcoin is “no longer an outsider” among the global financial assets, Burnett said.
“As the seventh-most valuable asset on earth, it is now positioned alongside traditional reserves, signaling a shift in how governments and institutions approach financial security, inflation protection and global liquidity,” he added.
The crypto industry will be watching Trump’s upcoming White House Crypto Summit on March 7, where more details on the Bitcoin reserve and digital asset stockpile plans are expected.
Related: Bitcoin struggles near $90K as US tariff fears spook ETF investors
Trump’s Bitcoin reserve may bring new financial products
The establishment of a Bitcoin reserve may lead to the creation of new Bitcoin-backed financial products, including lending mechanisms and alternative settlement solutions, Burnett…..
