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On Thursday, Donald Trump signed an executive order to establish a Strategic Bitcoin Reserve using tokens already held by the government via seizures. The market dumped BTC prices, in part disappointed that the government would not be buying additional bitcoin, but also just selling the news of the signed order.
It was a perplexing week for the crypto reserve after Trump dropped some "truths" on his social media platform first mentioning XRP, SOL, and ADA as targets for the crypto reserve. After some confusion and backlash, he later added, “And, obviously, BTC and ETH." The inclusion of so-called "America coins" in the reserve was to the chagrin of many in the crypto space, even including Solana's founder.
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