NEWSLETTER
The bitcoin (btc) community expressed mixed reactions to the crypto's summit of the White House on March 7, with some investors that characterize it as a historic day for bitcoin and cryptocurrencies, while others called the disappointing event.
crypto Trader thousands Deutscher <a target="_blank" data-ct-non-breakable="null" href="https://x.com/milesdeutscher/status/1898234942427140351″ rel=”null” target=”null” text=”null” title=”null”>saying The event was a “positive mass network” for bitcoin, despite mixed reactions.
Kyle Samani, managing partner of Multicoin Capital and assistant of the summit, <a target="_blank" data-ct-non-breakable="null" href="https://x.com/KyleSamani/status/1898211016791802296″ rel=”null” target=”null” text=”null” title=”null”>characterized It is like a “historical moment” for the cryptocurrency industry.
After the event, the founder and CEO of Coin Bureau, Nic Puckrin <a target="_blank" data-ct-non-breakable="null" href="https://x.com/nicrypto/status/1898180016459944350″ rel=”null” target=”null” text=”null” title=”null”>asked“Just looking at the lists, can I assume that nothing innovative came from the White House Summit?”
President Trump and Cabinet members deliver comments to the White House crypto summit. Fountain: The White House
The Maximalist of bitcoin, Justin Bechler, was very critical of the meeting. “The 'White House crypto Summit' is a meeting of rental lobbyists who push surveillance tokens approved by the State,” Bechler <a target="_blank" data-ct-non-breakable="null" href="https://x.com/1914ad/status/1897783551783059687″ rel=”null” target=”null” text=”null” title=”null”>wrote In x.
The Cryptographic Summit of the White House of the Trump administration represented a drastic deviation of the position of the previous administration towards the industry and followed the executive order of President Trump establishing a strategic bitcoin reserve.
Related: Trump changed the cryptography of the 'oppressed industry' to the 'central piece' of the US strategy
The markets react to the crypto of the White House and the Executive Order
The price of bitcoin decreased by approximately 7.3% after the bitcoin strategic reserve order and the White House crypto summit in a widely sold selling and sold event.
The executive order of President Trump authorized the United States government to acquire additional btc only through asset confiscation and neutral budget strategies that do not create additional debt, deficit or load for the taxpayer.
This warning received the disappointment of some bitcoin maximalists, who expected the United States government to actively buy additional btc for the reserve.
Current bitcoin price action. Fountain: Commercial view
bitcoin's contributing funds (ETF) registered $ 370 million in departures following the ad, since merchants considered that the executive order was disappointing.
Most investors now <a target="_blank" data-ct-non-breakable="null" href="https://x.com/intocryptoverse/status/1898358523672559633″ rel=”null” target=”null” text=”null” title=”null”>predict That bitcoin will crash with the price level of $ 70,000 in March before recovering $ 100,000.
The disappointment of the recent executive order and the posterior negative action caused a debate about whether bitcoin has reached its upper cycle or can still reach new heights in 2025.
Magazine: bitcoin's domain will fall into 2025: Benjamin Cowen, x Hall of Flame
