US President Donald Trump signed the decree to create an official Bitcoin reserve of the country. After the decision, the crypto market experienced a harsh decline. The statement was made by David Sacks, the Crypto Officer of the White House on Friday, March 7 in the early hours.

Trump signed the US strategic Bitcoin reserve

David Sacks announced that the US will now form an official “strategic Bitcoin reserve” with Trump’s presidential decree. The reserve was confiscated as a result of criminal or legal cases and will be formed with approximately 200 thousand Bitcoin (BTC) in the hands of the US government.

It was announced that the government will not sell Bitcoins held on the reserve, on the contrary, it would consider them as “digital gold ında in the long term. Sacks said this reserve would be a Digital Fort Knox for Bitcoin ..

New crypto will not be purchased

Sacks reminded that the government’s Bitcoin sales made at the wrong time before the US taxpayers have caused more than $ 17 billion damages. According to the new strategy, the US will now maximize its values ​​by keeping their digital assets long -term.

In addition, under the decree, it was announced that any subcoin, such as Ethereum, XRP, Solana or Cardano, except Bitcoin. If these Altcoins are confiscated only as a result of crime and legal cases, they will be kept in stock, but new purchases will not be made from the market.

Trump effect in the crypto market

Following Trump’s announcement, the crypto market was subjected to heavy sales pressure. After the announcement, the market value decreased by approximately 200 billion dollars and fell to below $ 3 trillion again with a decrease of 4.2 %.

The price of Bitcoin experienced a harsh decline from $ 90,000 to $ 85,000 in about an hour. The price was then gathered slightly and rose to $ 88,000. Ethereum decreased by about 5.7 %and fell to $ 2,150.

Damage is great in Altcoins

Following Trump’s reserve decision, especially the Altcoin market became more wounded. XRP depreciated by 1.3 %, Solana (left) 4.4 %and Cardano (island) around 7.6 %. These decreases revealed that markets only reacted to the Bitcoin -oriented reserve decision.

Although many market analysts and crypto executives have considered the presidential decision in general, the short -term concerns of investors have led to serious value losses in the markets. How the markets will adapt to the reserve decision will be clearer in the coming days.