One week after U.S. President Trump announced a strategic Bitcoin reserve, the asset is trading down—mostly thanks to wider macroeconomic uncertainties stemming from the new commander in chief's dramatic and unpredictable policies.
CoinGecko reports that Bitcoin’s price was a bit over $84,000 as late Friday night, after falling nearly 4% in a period of seven days.
Analysts said that despite the fact that it has dropped more than 20 percent from January’s record-breaking high, this slump may be short. Decrypt.
Thanks to…well, Trump—again.
On Thursday, a White House official said to a group of cryptocurrency bigwigs that the administration wanted to buy as much Bitcoin as it could.
Bitcoin was the topic of discussion this week.
ETF Action
Farside Investors’ latest data shows that American crypto-investors continued to sell Bitcoin ETFs in the United States this week. Nearly $900 millions left these investment vehicles by Thursday.
Bitcoin ETFs have fallen behind their gold-based counterparts. They briefly overtook them in December.
But don’t worry, experts say Decrypt that the products have room to run this year, with Bloomberg's ETF analyst Eric Balchunas adding that he thought Bitcoin was likely to win the ETF war over the long-term.
Bitwise introduces yet another BTC ETF
Speaking of ETFs, asset managers still don't think the market's crowded: Bitwise on Tuesday launched a new fund giving investors exposure to publicly traded companies with the biggest Bitcoin stashes.
The new Bitwise Bitcoin Standard Corporations ETF—OWNB—tracks 21 firms that hold 1,000 Bitcoins or more, including Strategy (formerly MicroStrategy), Bitcoin miner MARA, America's biggest crypto exchange, Coinbase, and even electric car company Tesla.
The Bitwise Bitcoin Standard Corporations ETF is now available for trading, with the ticker OWNB.
MSTR, a company that holds bitcoin for corporate treasury assets, has been adopted by over 70 firms today. The Bitwise Bitcoin Standard Corporations Index holds the largest, those with… pic.twitter.com/Z7pqLGGx27
— Bitwise (@BitwiseInvest) March 11, 2025
Bitcoin – Rumble Buys More
YouTube rival Rumble wasn't included in Bitwise's index, but the company is a good example of a smaller firm stacking sats: The media firm last year said it would allocate $20 million of its excess cash reserves to Bitcoin.
On Wednesday, Nasdaq announced that it purchased 188 orange tokens for its Treasury at an average cost of $91,000 each.
Has Strategy finished buying?
Bitcoin Treasury Strategy – which created the blueprint Rumble now follows – has reduced its BTC buying after a frantic shopping spree.
Decrypt spoke to experts who said it was unlikely the company—previously known as MicroStrategy—was giving up its long-term plan, and rather focusing on its new stock offering, STRK.
White House Going Orange
This week’s news for Bitcoiners was the most shocking: The White House is indeed interested in buying more Bitcoin.
Participants at the Bitcoin Policy Institute’s closed-door discussion on Tuesday have confirmed that Decrypt It is believed that the administration will buy the maximum amount of cryptocurrency possible. That's at least what Bo Hines, the executive director of the Presidential Working Group on Digital Assets, reportedly said.
This news follows President Trump’s last-week fulfillment of his campaign pledge and signing an order to create a Bitcoin Strategic Reserve.
James Rubin is the editor
