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Let's be honest: the way Trump signed the order to create the BTC reserve and what he said at the crypto summit is clearly not what crypto investors expected to hear.
That's true, but, as I said before, I'm positively surprised that he delivered on his promise at all. I don't know if he actually promised to fuel such reserve with a state purchase of bitcoins, if not, it's the people who seemed to have unrealistic expectations.
There are still some initiatives of crypto reserves within a few individual states. I haven't been following up on that, but I think all of them are in different stages of approval. When that happens, we might have some catalyst for another bull run. Right now, the market seems undecided on which way to go.