Bitcoin Falls Another 6% Monday as Banks Weigh Digital Currency Impact
Trump’s policy to create a strategic bitcoin reserve ultimately did not impress investors after initial optimism
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- Written by Banking Exchange staff
Bitcoin and other digital currencies fell on Monday with Bitcoin hitting close to $80,000.
Trump’s policy to create a strategic bitcoin reserve ultimately did not impress investors after initial optimism.
Trump’s policy does not provide plans for the government to buy into Bitcoin.
Analysts, however, stated that it was still a long-term endorsement of Bitcoin’s solvency and is seen as a very short-term setback.
Digital currency and real estate have been the two strongest investment assets over the past few years.
For banks, the move by the present administration should at least be a sign that a long-term strategy for bank holdings should include digital currency.
Tagged under Risk Management; Feature; Feature3; Cryptocurrency; Bitcoin; Blockchain;
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