Crypto prices are sliding lower despite new measures announced by U.S. President Donald Trump ahead of a “Crypto Summit” that’s taking place at the White House today (March 7).
Trump has officially signed an executive order creating a strategic Bitcoin (BTC) reserve for the U.S. and announced a separate “digital asset stockpile” comprised of other crypto.
While a strategic Bitcoin reserve was long sought by investors, news of Trump’s executive order has done little to move the price of the biggest cryptocurrency.
Bitcoin is currently trading flat at $88,750 U.S. after initially falling 5% when news broke of the executive order on the strategic reserve.
Other cryptocurrencies such as Ethereum (ETH), XRP (XRP), and Solana (SOL) are down 2% or more hours before the White House Crypto Summit gets underway.
U.S. Crypto Czar David Sacks said on social media that the Bitcoin reserve will include assets already owned by the U.S. government that it seized in law enforcement actions.
The U.S. currently holds more than 198,000 Bitcoin worth about $17 billion U.S., according to the American government.
The crypto stockpile will include “digital assets other than Bitcoin forfeited in criminal or civil proceedings,” wrote Sacks on social media, adding that the government will not acquire additional crypto.
Investors dumped their crypto as it became clear that the U.S. has no immediate plans to begin buying new Bitcoin and other digital assets.
Crypto bulls had hoped that a strategic reserve would see the U.S. government acquire large amounts of Bitcoin, pushing its price upwards as a result.
“This is not the aggressive Bitcoin reserve some were pressing for,” wrote TD Bank (TD) analyst Jaret Seiberg in a note to clients.
It is not clear what other new measures might come out of the first White House Crypto Summit.
Bitcoin recently experienced its worst week and month since 2022. So far in 2025, the cryptocurrency’s price has declined 5%.
