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Why the iShares Bitcoin Trust ETF Plunged in February

Bitcoin evangelists have touted its possibilities as a store of value in the event other currencies lose value due to inflation. President Trump had promised to de-regulate the cryptocurrency industry and make America the "Bitcoin capital of the world." Through February, the prospect of tariffs and federal layoffs under the Department of Government Efficiency program ramped up as the deadline drew near, causing several highly negative consumer sentiment readings.