Mixed reactions to White House Crypto Summit, with Bitcoin price dropping 7.3%.

From Cointelegraph
March 8, 2025 12:18:01 PM:

The Bitcoin community reacts to the White House Crypto Summit with mixed feelings. Some view it as a historic moment for Bitcoin and cryptocurrencies, while others find it underwhelming. President Trump’s executive order establishing a Bitcoin strategic reserve marks a significant shift in US policy towards the industry.

Following the summit and executive order, Bitcoin’s price dropped by 7.3%, leading to a sell-the-news event. The order allows the US government to acquire BTC through asset forfeiture and budget-neutral strategies, disappointing some maximalists hoping for active purchase. Bitcoin ETFs saw $370 million in outflows post-announcement, with predictions of a crash to $70,000 before hitting $100,000.

Read more at Cointelegraph: Bitcoin investors share mixed reactions to White House Crypto Summit