Bitcoin is trading for around $88,000, a 1.50% drop in Ethereum, XRP, Solana and Cardano over the past 24 hours. Following news from Digital Asset Stockpiling TD Cowan Analyst, the price is considered a “compromise” and the reserve is a positive move from the White House.
Crypto prices remained the same Friday after US President Donald Trump signed an executive order establishing a strategic Bitcoin sanctuary.
CoinmarketCap data shows Bitcoin is trading the mark of around $88,000, down more than 1.50% over the last 24 hours.
Ethereum, XRP, Solana and Cardano also remain relatively flat following the news. Solana saw the biggest drop of 5% in 24 hours and is currently trading at $142. Earlier this month, Trump revealed that these will become coins included in the crypto sanctuary.
Notably, these coins were not mentioned in Trump’s executive order signed on March 6th detailing the strategic Bitcoin reserves and digital asset stockpile.
“compromise”
In an X post, White House Artificial Intelligence (AI) and Crypto Czar David Sacks said:
“This reserve will be capitalized with federal-owned Bitcoin, which has been confiscated as part of a criminal or civil assets forfeiture procedure. This means that taxpayers will not be charged one-for-cost.”
Just a few minutes ago, President Trump signed an executive order to establish a strategic Bitcoin sanctuary.
This reserve is capitalized with federal-owned Bitcoin, which has been confiscated as part of a criminal or civil assets forfeiture procedure. This means that…
– March 7, 2025
Sacks also indicated that the executive order has allowed the secretaries of the Treasury and Commerce Department “on the point that there are no incremental costs for American taxpayers to develop a budget-neutral strategy to acquire additional Bitcoin.”
In response, Strategy Chairman and CEO Michael Saylor said, “There are several budget-neutral strategies to acquire additional Bitcoin.”
With news that the strategic Bitcoin Reserve is not making prices higher, analysts at TD Cowen thought this was a positive move from the White House, adding:
“We see this as a compromise. The government is not spending taxpayer dollars on acquiring new digital assets. It’s simply not selling what it seizes.”
