Trump confused by Strategic Bitcoin Reserve he just ordered
At the signing ceremony for the Strategic Bitcoin Reserve (SBR), US President Donald Trump seemed as confused about its impact as the rest of the market. On the announcement, which came via a tweet from Crypto Czar David Sacks, crypto prices globally tanked. Within an hour, the market capitalization of crypto assets shed $200 billion. Within 90 minutes of the news, the combined crypto market cap was within 1.8% of its pre-announcement price. Despite announcing an executive order authorizing the US Treasury and Commerce Secretaries to buy bitcoin (BTC), Trump appeared to struggle to fully comprehend the text in front of him. After Sacks verbally summarized the order, Trump asked him to clarify, “And this is something you believe in fully?” Sacks assured him, “100%.” “Alright,” Trump continued. “And we made the promise, right?” Sacks responded consolingly, “Absolutely.” Just a few minutes ago, President Trump signed an Executive Order to establish a Strategic Bi...