Bitcoin fell on Monday because volatility at the price of the largest crypto currency in the world continues after Executive order signed by President Donald Trump create a strategic reserve Bitcoin for the United States.
Bitcoin traded in the amount of $ 81,712, which is more than 5%, but earlier, at 9:42 am in Singapore, Metrics Coin said.
The reserve will be funded by coins seized in cases of criminal and civic seizures and there are no plans for the US government to buy more bitcoin. After the announcement of a strategic reserve last Thursday, Cryptocurrency prices have declined As investors were disappointed, not A more aggressive program.
Other cryptocurrency prices also fell on Monday. Both ether and XRP They reduced about 7.5% at about 9:43 in Singapore.
Some investors, however, said that the move to establish a reserve was a bull in the long run.
“I absolutely think the market is wrong,” Matt Hougan, the head of an investment in Bitwise Asset Management, “Squawk Box Asia”, said on Monday. “The market is disappointed in the short term”, which the Government did not say that it would start to get 100,000 or 200,000 bitcoins immediately, he added.
Hougan pointed toward Comments On the X from the White House Crypto and AI Czar David Sacks, who said he would now seek “a neutral budget strategy for acquiring additional bitcoin, provided that these strategies do not have the incremental costs of US taxpayers.”
“I think the right question to ask: is this executive order more likely that Bitcoin will be a geopolitically important currency or assets in the future? Will other governments look like to be followed by the US -Ai leadership of their own strategic reserve? And for me it is an answer to that aloud,” Hougan said.
“The reason why questions are important is that the question is that Bitcoin is $ 80,000 for a coin or a million dollars in money.”
Hougan named the “short -term failure” fall.
“I think the market will soon find its basis and realize that it is actually incredibly bikoist in the long run for this property and for cryptocurrencies as a whole,” he said.
