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The Republican President Donald Trump issued a executive order on Thursday to create a strategic Bitcoin reserve US and Friday hosted the first cryptocked summit in the White House.

Odpovedám na otázku: Republiky president Donald Trump vydal on Thursday an executive order to create a strategic U.S. bitcoin reserve, while also hosting a historic crypto industry leaders summit at the White House on Friday.

Despite the positive developments, the crypto market reacted negatively, pushing bitcoin to its lowest levels in recent months by Monday.

Despite the positive developments, the crypto market reacted negatively, pushing bitcoin to its lowest levels in recent months by Monday.

As the bears continue to exert pressure on bitcoin ahead of the next bull run, rendering it cheaper for new investors to enter the market, institutions and government officials are continuing to pour praise on the world’s largest cryptocurrency.

As the bears continue to exert pressure on bitcoin ahead of the next bull run, rendering it cheaper for new investors to enter the market, institutions and government officials are continuing to pour praise on the world’s largest cryptocurrency.

Having gained nearly 400% over the past two years, and now standing as a key focus for the U.S. administration, bitcoin is showcasing resilience in the face of short-term volatility.

Having gained nearly 400% over the past two years, and now standing as a key focus for the U.S. administration, bitcoin is showcasing resilience in the face of short-term volatility.

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Bitcoin price drops 11% over 5 days

President Trump announced the creation of the U.S. strategic bitcoin reserve on Thursday, kicking off a weekend of crypto-related news from the White House.

The initiative will see the government investing in bitcoin, which will be funded through the standard administrative channels.

The initiative will see the government investing in bitcoin, which will be funded through the standard administrative channels.

The U.S. government is currently estimated to hold around $17 billion in bitcoins that were seized in criminal cases or obtained in civil lawsuits.

Following the announcement of Trump’s crypto plans, bitcoin price started to decline, and the sell-off continued after the crypto leaders summit on Friday.

Following the announcement of Trump’s crypto plans, bitcoin price started to decline, and the sell-off continued after the crypto leaders summit on Friday.

The meeting at the White House brought together top executives from the industry with members of the Trump administration to discuss the administration’s stance on cryptocurrencies and Web 3.0.

According to data from CoinMarketCap, bitcoin fell 11% since Thursday, and BTC is now trading at around $82,000, marking its lowest price in recent months. Similarly, ether slid 10%, while XRP is down 17% since Thursday.

Bitcoin ETF funds see massive capital outflows

The market is also seeing significant outflows from bitcoin ETF funds. Despite the anticipation for the crypto summit and the administration’s stance on digital assets, capital has been flowing out of these funds for the fifth consecutive week.

Over the past four weeks, these funds have seen a total of $4.5 billion in outflows (in terms of ‘net capital movements’), and out of this total, institutional investors alone have pulled about $800 million from their bitcoin ETF holdings.

The largest single-day outflow during the week occurred on Friday, with $409 million flowing out of bitcoin ETFs. According to data from Farside Investors, the main contributors to Friday’s record outflows were Ark Invest’s ARKB and Fidelity’s FBTC ETFs.

Let’s now take a closer look at the key topics discussed at the crypto summit and why it’s a good time to consider buying bitcoin.

Main topics discussed at crypto summit

On Friday, the White House hosted a meeting with some of the biggest names in the crypto industry. Among the attendees were Brian Armstrong, CEO of Coinbase (NASDAQ:COIN), and Brad Garlinghouse, head of Ripple.

The summit provided a unique platform for direct communication between the crypto sector and the government.

The discussions at the summit highlighted the U.S.’s direction toward forming a clear strategy for integrating cryptocurrencies into the national economy. Bitcoin and other major cryptocurrencies have become key topics on the agenda of the Trump administration.

A crucial aspect of the conversation was the need for transparency and auditability of digital assets. While there’s no immediate plan for how the administration will fund the bitcoin purchases, Trump highlighted the aim to provide liquidity during potential financial crises.

The administration is planning to develop strategies to acquire more bitcoins without incurring additional costs to taxpayers.

Those present at the summit praised the administration’s openness to the crypto industry and expressed hope that this collaboration will foster innovation in the industry. The summit also underscored the importance of appropriate regulation to protect the market from risks.

These developments are placing bitcoin a step closer to cementing its position as a primary investment instrument in the modern financial landscape.

These developments are placing bitcoin a step closer to cementing its position as a primary investment instrument in the modern financial landscape.

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