A week ago on Sunday, US President Trump made a mess of the crypto market but tweeting about a crypto reserve including Solana, Ripple and Cardano.
A U.S. Crypto Reserve will elevate this critical industry after years of corrupt attacks by the Biden Administration, which is why my Executive Order on Digital Assets directed the Presidential Working Group to move forward on a Crypto Strategic Reserve that includes XRP, SOL, and ADA. I will make sure the U.S. is the Crypto Capital of the World. We are MAKING AMERICA GREAT AGAIN!Late on Friday, Trump signed the executive order and it's been a 'sell-the-fact' trade since, with bitcoin down about $3000 in the aftermath and carving out fresh lows at the moment.
The order kept open the possibility of the government buying bitcoin in future but that may be difficult because it would likely require money from Congress.
The US Commerce and Treasury secretaries "are authorized to develop budget-neutral strategies for acquiring additional bitcoin, provided that those strategies impose no incremental costs on American taxpayers," a factsheet on the White House website said.
The lesson here: The government is exit liquidity not entry liquidity.
This article was written by Adam Button at www.forexlive.com. Read More Details
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