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Is the Strategic Bitcoin Reserve Really Going to Send Bitcoin Skyrocketing in Value? (The Answer Might Surprise You)

On the surface, the newly announced Strategic Bitcoin Reserve sounds like the perfect catalyst for sending Bitcoin (CRYPTO: BTC) higher for years to come. In fact, in the days following the official announcement of the Strategic Bitcoin Reserve, the price of Bitcoin actually fell. The first thing that you need to know is that many crypto market participants found the official announcement of the Strategic Bitcoin Reserve underwhelming at best.

Did Bitcoin Just Get a Once-in-a-Generation Catalyst? Here's Why It's a Buy Now.

It's not a good idea to thoughtlessly follow in the footsteps of a big player when it announces that it's going to be buying, selling, or holding an asset, especially when it comes to cryptocurrencies like Bitcoin (CRYPTO: BTC). On March 6, President Donald Trump issued an executive order directing the establishment of a Strategic Bitcoin Reserve and saying that "Government BTC deposited into the Strategic Bitcoin Reserve shall not be sold..." Executive orders can be reversed -- by this president or a future one -- but I consider this a major move in favor of Bitcoin.