Trump Directs U.S. Government to Explore Bitcoin Acquisitions

On March 7, 2025, President Trump announced an executive order to explore purchasing Bitcoin for the national strategic reserve, stating that the U.S. government already holds $17 billion worth of Bitcoin from criminal forfeitures. This announcement caused Bitcoin's price to surge from $65,000 to $72,000 within the first hour, accompanied by a dramatic increase in trading volume, reaching over $30 billion—a 200% rise from the previous week's average. The announcement also spurred interest across other cryptocurrencies, with Ethereum and Litecoin seeing a 10% increase in trading volume. Trump criticized the previous administration for selling Bitcoin and emphasized a new policy of accumulating more holdings without taxpayer costs. Following this, on March 8, cryptocurrency analyst Miles Deutscher noted that increased governmental interest in Bitcoin led to further price and trading volume increases, indicating a strong bullish sentiment in the market. The market's responsiveness to Trump's announcement underscores a significant shift towards institutional adoption and regulatory acceptance of Bitcoin.