Cryptocurrencies decline as Trump's U.S. bitcoin reserve plan falls short of expectations

Earlier losses in other coins – specifically those that rallied at the beginning of the week after Trump said they would be included in the strategy – also eased. Ether was down 2%, trading at $2,184.08. XRP and Solana's SOL token retreated 1% and 3%, respectively. Cardano's ADA token tumbled 13%. The price of bitcoin was last lower by 3% at $87,586.86, according to Coin Metrics. Shortly after the news broke, it fell to as low as $84,688.13. White House crypto and AI czar David Sacks detailed in a post on X that the bitcoin reserve will include bitcoin already owned by the U.S. government that it seized from past law enforcement actions – a move, he emphasized, that will "not cost taxpayers a dime." The U.S. currently owns more than 198,000 bitcoins worth about $17 billion, according to Arkham. The stockpile of other coins will include "digital assets other than bitcoin forfeited in criminal or civil proceedings." Sacks said the government will not acquire additional assets for it " ... Read full article.