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- The shares of companies with ties with the cryptocurrencies fell together with the price of digital assets in the last movements of President Donald Trump.
- The cryptographic market was affected by Trump’s decision to establish a Federal Bitcoin strategic reserve without planning to buy more.
- Comments from the president of the Jerome Powell Federal Reserve that the Central Bank would adopt an approach to wait and see the future interest rate cuts while weighing the impact of Trump’s rates also affected cryptocurrencies.
Strategy (MSTR) actions and other companies linked to cryptocurrencies sank along with the price of digital currencies about concerns about the Federal Bitcoin Federal Strategic Reserve Plan of President Donald Trump and care about the US economy.
Trump signed an executive order on Friday that established the new reserve, which according to him was part of his effort to make the United States the “Cypto Capital of the Planet”. However, the proposal only requires that the reservation include assets already seized by the Government through legal actions, and does not suggest additional purchases.
Another factor that weighs on the cryptographic market is the economic impact of Trump’s tariffs, and the response of other countries to them, including the future of interest rates. Last week, the president of the Federal Reserve, Jerome Powell, said in a speech that those in charge of formulating policies will adopt an approach to wait and see the target cuts until the effect of the president’s movements is better understood.
The strategy, the largest corporate head of Bitcoin, saw that his actions sank 13% on Monday morning. Crypto Trading Platform Coinbase Global (Coin) and Bitcoin Miner Mara Holdings (Mara) also fell by approximately 12% and 13%, respectively.
