Web Analytics
The Defiant
2025-03-10 10:50:31

BTC Drops as U.S. Strategic Bitcoin Reserve Disappoints Traders

Bitcoin dropped sharply after President Donald Trump’s Strategic Bitcoin Reserve disappointed traders, who were unhappy that the reserve would only contain seized Bitcoin, with no intention of funding new purchases. The U.S. government has almost 200,000 BTC, worth $17.7 billion. But about half of these, almost 95,000, came from the Bitfinex hack and will have to be returned to victims or paid for. White House AI and Crypto Czar David Sacks revealed on X that “the Reserve will be capitalized with Bitcoin owned by the federal government that was forfeited as part of criminal or civil asset forfeiture proceedings. This means it will not cost taxpayers a dime.” To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

Get Crypto Newsletter
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.