Digital Fort Knox: The White House’s Scheme to Lock Up 198,109 Bitcoins

As the global crypto community held its breath for positive signals from the White House summit, an executive order on the evening of March 6 (Washington time) caused Bitcoin’s market value to drop by 3.5% in just 24 hours.

The Trump administration dramatically announced that it would secure 198,109 Bitcoins — worth approximately $17.8 billion at current prices — in a strategic reserve dubbed “Digital Fort Knox.” This name, directly referencing America’s ultimate gold reserve vault, implies Bitcoin’s potential role as “digital gold” underpinning the credibility of the dollar. However, the market’s stark reaction — voting with its feet — presents a glaring contrast:

Locking up $17.8 billion in Bitcoin led to a market capitalization drop exceeding $6 billion.

The market has been sluggish, vulnerable, and desperate for good news. Yet, when good news finally arrived, it was deemed insufficient, causing prices to fall rather than rise. Regardless of how controversial Trump’s stance on Ukraine might be, concerning Bitcoin, it’s evident that Trump was let down this time.

Market disappointment primarily stems from dashed expectations of large-scale government Bitcoin purchases. Many investors, especially new participants in the crypto market, might be…