Source: Cointelegraph Original: "{title}"

Regulatory experts say the widespread disappointment surrounding the U.S. strategic Bitcoin reserve—once hailed as a historic initiative to promote Bitcoin adoption—indicates that investor expectations are unrealistic.

On March 7, U.S. President Trump signed an executive order that will utilize Bitcoin seized by the government in criminal cases, rather than directly purchasing the asset from the market. According to Cointelegraph Markets Pro, following the announcement, the price of Bitcoin dropped over 6%, from $90,400 to $84,979.

Anastasija Plotnikova, co-founder and CEO of Fideum, a regulatory and blockchain infrastructure company focused on institutional business, stated that this reaction shows the industry's expectations are unrealistic.

BTC/USD 1-Month Chart. Source: Cointelegraph

She told Cointelegraph, "It is clear that the U.S. government can utilize their existing Bitcoin, which is the seized funds." She added, "It’s strange to see some industry participants so disappointed. Just not long ago, the idea of a Bitcoin reserve held and supported by the federal government was even considered revolutionary, and now we see a very reliable implementation plan."

The regulatory expert also mentioned that the Bitcoin reserve is a "prudent" use of taxpayer funds, and "this decision is highly consistent with the message conveyed by this administration."

Source: Margo Martin

Although the current plan does not involve the government purchasing Bitcoin, the executive order does not rule out the possibility of future purchases. The order authorizes the U.S. Secretary of the Treasury and the Secretary of Commerce to develop a "strategy that does not increase budgetary burdens" to purchase more Bitcoin for the reserve without imposing additional costs on taxpayers.

However, analysts told Cointelegraph that in the short term, investor disappointment, combined with ongoing macroeconomic concerns related to import tariffs, could push Bitcoin's weekly closing price below $82,000, posing a risk of further downward volatility.

White House Cryptocurrency Summit: "A Huge Shift Compared to the Biden Administration"

Trump signed this historic Bitcoin reserve executive order the day before hosting the first White House cryptocurrency summit, which received mixed reactions from the cryptocurrency community.

Alexander Urbelis, General Counsel and Chief Information Security Officer of the Ethereum Name Service, stated that despite differing opinions on the summit, it marks a key moment in the White House's interaction with the cryptocurrency industry.

Urbelis told Cointelegraph, "The fact that this summit could take place represents a huge shift from the Biden administration's hands-off approach, and it will certainly resonate within the blockchain community and among young voters."

He also added, "People have high hopes for the outcomes of the cryptocurrency summit. One expectation is that this interaction with the White House can continue long-term after the inaugural meeting."

Related: The U.S. officially establishes a cryptocurrency reserve; why is the crypto community skeptical?

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