FILE PHOTO: U.S. President Donald Trump holds a signed executive order on cryptocurrencies, in the Oval Office of the White House, in Washington, U.S., January 23, 2025.
WASHINGTON (Reuters) -U.S. President Donald Trump has signed an executive order to establish a strategic reserve of cryptocurrencies by using tokens already owned by the government, disappointing some in the market who had hoped for a firm plan to buy new tokens.
The announcement, made on Thursday ahead of a meeting with crypto executives at the White House later on Friday, sent the price of bitcoin down by around 5% to $85,000. In early European trading on Friday, bitcoin has recovered to trade at $89,200.
