Just a week after President Trump revealed plans for a Bitcoin strategic reserve, the cryptocurrency is experiencing a decline in value—largely due to the ongoing macroeconomic uncertainties triggered by the new administration’s unpredictable policies.
As reported by CoinGecko, Bitcoin was trading at slightly over $84,000 per coin late Friday, registering a nearly 4% decrease over the last week.
However, even with a drop of more than 20% from its peak in January, experts suggest that this downturn may be temporary, according to statements made to Decrypt.
Thanking—yes, Trump—again.
A White House representative informed a gathering of cryptocurrency leaders on Thursday that the new government aims to acquire as much Bitcoin as possible.
This week was filled with significant Bitcoin news.
ETF Developments
American investors have continued to withdraw from Bitcoin ETFs this week, with nearly $900 million exiting these investment products as of Thursday, per recent figures from Farside Investors.
Currently, Bitcoin ETFs are falling behind their gold counterparts after briefly surpassing them in December.
Nevertheless, industry experts told Decrypt that these products still possess growth potential this year, with Bloomberg ETF analyst Eric Balchunas suggesting Bitcoin will likely prevail in the long-term ETF competition.
Bitwise Introduces New BTC-Related ETF
In the realm of ETFs, asset managers remain optimistic about the market’s landscape: Bitwise launched a new fund on Tuesday that allows investors to gain exposure to publicly listed companies with significant Bitcoin holdings.
The newly introduced Bitwise Bitcoin Standard Corporations ETF—OWNB—tracks 21 companies that possess at least 1,000 Bitcoins, which include Strategy (formerly known as MicroStrategy), Bitcoin mining firm MARA, leading U.S. crypto exchange Coinbase, and electric vehicle manufacturer Tesla.
Rumble Expands Bitcoin Holdings
While YouTube competitor Rumble was not featured in Bitwise’s index, it exemplifies how smaller firms are accumulating Bitcoin: The media organization announced last year that it would invest $20 million of its surplus cash into Bitcoin.
On Wednesday, the Nasdaq-listed platform revealed it had purchased around 188 Bitcoin for its treasury, with an average purchase price of $91,000 per coin.
Is Strategy Finished Acquiring?
Bitcoin treasury Strategy, which pioneered the acquisition approach that Rumble is now embracing, has considerably slowed its Bitcoin purchases after a fervent acquisition phase.
Decrypt consulted with analysts who suggested that the company—previously MicroStrategy—is not abandoning its long-term strategy but is instead concentrating on its new stock release, STRK.
White House Embraces Bitcoin
Perhaps the most impactful news for Bitcoin enthusiasts this week was the revelation that the White House is indeed interested in increasing its Bitcoin holdings.
Participants at a private roundtable hosted by the Bitcoin Policy Institute on Tuesday confirmed to Decrypt that the current administration is keen to acquire as much of the cryptocurrency as possible, as mentioned by Bo Hines, the executive director of the Presidential Working Group on Digital Assets.
This announcement follows President Trump’s commitment last week to establish a Bitcoin strategic reserve, fulfilling a campaign promise.
Edited by James Rubin
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