Source: Cointelegraph Original: "{title}"
The Bitcoin (BTC) community has had mixed reactions to the White House cryptocurrency summit on March 7, with some investors considering it a historic day for Bitcoin and cryptocurrency, while others found the event disappointing.
Cryptocurrency trader Miles Deutscher stated that despite the mixed reactions, the event was a "huge net positive" for Bitcoin.
Kyle Samani, managing partner at Multicoin Capital and a participant in the summit, described it as a "historic moment" for the cryptocurrency industry.
After the event, Nic Puckrin, founder and CEO of Coin Bureau, asked, "If I only look at the charts, can I conclude that the White House summit did not yield any groundbreaking results?"
President Trump and cabinet members spoke at the White House cryptocurrency summit. Source: White House
Bitcoin purist Justin Bechler was quite critical of the meeting. Bechler wrote on the X platform, "The White House cryptocurrency summit is a gathering of rent-seeking lobbyists promoting government-sanctioned surveillance tokens."
The White House cryptocurrency summit hosted by the Trump administration stands in stark contrast to the previous administration's stance on the industry and took place after President Trump signed an executive order establishing a Bitcoin strategic reserve.
Market Reactions to the White House Cryptocurrency Summit and Executive Order
Following the release of the Bitcoin strategic reserve executive order and the White House cryptocurrency summit, Bitcoin's price dropped by about 7.3%, which was widely interpreted as a "sell the news" event.
President Trump's executive order authorized the U.S. government to acquire more Bitcoin only through asset forfeiture and strategies that do not incur additional debt, deficits, or burdens on taxpayers, thereby not increasing budgetary burdens.
This limitation disappointed some Bitcoin purists who had hoped the U.S. government would actively purchase more Bitcoin for the reserve.
Current price trend of Bitcoin. Source: TradingView
Bitcoin ETFs saw an outflow of $370 million following the announcement, as traders found the executive order disappointing.
Now, most investors expect Bitcoin to drop to the $70,000 price level in March before rebounding to $100,000.
The disappointment stemming from the recent executive order and the subsequent price drop has sparked discussions about whether Bitcoin has already reached the peak of this cycle or if it can set new highs in 2025.
Related: Analysts say the dollar's plunge fuels Bitcoin bull market, but other indicators raise concerns.
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
