Bitcoin slides following US President Trump’s strategic reserve announcement

Bitcoin took a dip after US President Donald Trump signed an executive order to establish a Strategic Bitcoin Reserve. The reserve, set to be financed solely with Bitcoin and multiple other digital assets confiscated from criminal and civil forfeiture cases, signals a major policy shift on digital assets. The order also noted that the reserve will not use taxpayer funds for acquisitions. In a post shared on social media platform X (earlier Twitter), White House crypto and artificial intelligence advisor David Sacks confirmed the order.