On February 4, Trump's administration representatives confirmed plans to study the feasibility of creating a national Bitcoin reserve.
Press Conference and Trump's Announcement
David Sacks, appointed by President Donald Trump for cryptocurrency and AI initiatives, held a press conference confirming plans to study a Bitcoin reserve. Congressional leaders like Tim Scott attended.
Market Reaction and Analysts' Views
Bitcoin's price fell 5% following Sacks's announcement, linked to skepticism about the administration's commitment. EthNews analysts associated this drop with uncertainty around Trump's plans.
Community Expectations and Reactions
The crypto community is divided. Lyn Alden advised focusing on Bitcoin fundamentals, while Hunter Horsely emphasized the importance of patience with policy results.
While the reserve study progresses, a lack of deadlines leaves investors weighing short-term volatility against long-term potential.
