Bitcoin Falls Over 6% as Market Reacts to Trump’s Executive Order on U.S. Strategic Reserve

Bitcoin fell Monday as market volatility persisted following President Donald Trump’s executive order to create a U.S. strategic bitcoin reserve.

Transcript

00:00It's Benzinga bringing Wall Street to Main Street.

00:02Bitcoin fell Monday as market volatility persisted following President Donald Trump's

00:06executive order to create a U.S. strategic Bitcoin reserve. The cryptocurrency dropped

00:10over 6 percent to around $80,000 before recovering some losses. The reserve will

00:15be funded by Bitcoin seized in criminal and civil forfeiture cases with no plans

00:19for additional government purchases. Prices dropped after the announcement last Thursday

00:23as investors expected a more aggressive acquisition strategy. Some analysts view

00:28the move as bullish long term, suggesting it could prompt other governments to establish reserves.

00:33For all things money, visit Benzinga.com.