Bitcoin investors share mixed reactions to White House Crypto Summit

The Bitcoin (BTC) assemblage voiced mixed reactions to the March 7 White House Crypto Summit, with immoderate investors characterizing it arsenic a historical time for Bitcoin and cryptocurrencies, portion others called the lawsuit underwhelming.

Crypto trader Miles Deutscher said the lawsuit was a "massive nett positive" for Bitcoin, contempt the mixed reactions.

Kyle Samani, the managing spouse astatine Multicoin Capital and an attendee of the summit, characterized it arsenic a "historic moment" for the cryptocurrency industry.

Following the event, Coin Bureau laminitis and CEO Nic Puckrin asked, "Just looking astatine the charts, I tin presume that thing groundbreaking came from the White House summit?"

President Trump and furniture members present comments to the White House Crypto Summit. Source: The White House

Bitcoin maximalist Justin Bechler was highly captious of the meeting. "The White House 'crypto summit' is simply a gathering of rent-seeking lobbyists pushing state-approved surveillance tokens," Bechler wrote connected X.

The Trump administration's White House Crypto Summit represented a drastic departure from the erstwhile administration's stance toward the manufacture and followed President Trump's enforcement bid establishing a Bitcoin strategical reserve.

Related: Trump turned crypto from ‘oppressed industry’ to ‘centerpiece’ of US strategy

Markets respond to White House Crypto Summit and enforcement order

The terms of Bitcoin declined by astir 7.3% pursuing the Bitcoin strategical reserve bid and the White House Crypto Summit successful a wide interpreted sell-the-news event.

President Trump's enforcement bid authorized the US authorities to get further BTC lone done plus forfeiture and budget-neutral strategies that bash not make further debt, deficits, oregon a load connected the taxpayer.

This caveat was met with disappointment from immoderate Bitcoin maximalists, who hoped the US authorities would actively acquisition further BTC for the reserve.

Bitcoin’s existent terms action. Source: TradingView

Bitcoin exchange-traded funds (ETFs) recorded $370 cardinal successful outflows successful the aftermath of the announcement, arsenic traders viewed the enforcement bid arsenic underwhelming.

A bulk of investors present predict that Bitcoin volition clang to the $70,000 terms level successful March earlier reclaiming $100,000.

The disappointment from the caller enforcement bid and the ensuing antagonistic terms enactment sparked statement astir whether Bitcoin has reached its rhythm apical oregon tin inactive scope caller heights successful 2025.

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