Former President Donald Trump has signed an executive order proposing the establishment of a strategic reserve for Bitcoin 
$85,953 and altcoins seized by the U.S. government. This initiative, dubbed “Digital Fort Knox,” aims to hold these cryptocurrencies as a long-term store of value. However, the implications of this decision will be limited to assets confiscated by the government in criminal or civil seizure operations, which means only BTC and altcoins obtained through these processes will be included. Following the announcement, the cryptocurrency market reacted negatively, with experts suggesting that Trump’s move triggered a “sell the news” response.
Bitcoin and Altcoins Experience Sharp Declines
In the wake of Trump’s executive order, significant drops were observed in Bitcoin and altcoins. Bitcoin fell by over 5% in the last 24 hours, dropping to $85,470, while Ethereum (ETH) 
$2,129 experienced a 6% decrease, settling at $2,114.
Current Status of Bitcoin and Altcoins
Altcoins were similarly affected. XRP declined by 2.42%, BNB dropped 2.58%, and Solana 
$137 (SOL) lost 5.89%. Other altcoins such as Cardano 
$0.8397 (ADA), Dogecoin 
$0.193147 (DOGE), and Tron (TRX) fell by 12.85%, 4.91%, and 2.58%, respectively. Additionally, Pi Network’s Pi Coin saw a value loss of 8.68%.
Trump’s Executive Order on Bitcoin and Crypto Reserves
According to the signed executive order, the U.S. government will store BTC and certain altcoins obtained from civil and criminal seizure cases in the proposed “Digital Fort Knox.” This decision is framed as a strategy for holding cryptocurrencies as a long-term store of value. Moreover, government officials will seek ways to acquire more Bitcoin and altcoins without harming the American budget. The Department of Treasury and the Department of Commerce have been authorized to develop strategies for additional Bitcoin and altcoin purchases.