US Bitcoin Reserve Didn't Inspire Investors: How the Crypto Market Reacted
Date: 2025-03-25 Author: Gabriel Deangelo Categories: CRYPTO PAYMENTS
The decision to form a strategic Bitcoin reserve, signed by Donald Trump on March 6, generated interest, but did not bring the expected effect. The document assumes that the state will not sell confiscated bitcoins, and no new purchases at public expense are planned. Despite the potential significance of the initiative, the market remained indifferent, and most crypto company shares either remained unchanged or went into the red.
Core Scientific (NASDAQ: CORZ) showed a moderate increase of 8.41% after the decree was published, despite a decrease in BTC mining volumes - from 256 to 215 coins. The company also announced the appointment of Jim Nygaard as CFO.
Riot Platforms (NASDAQ: RIOT), on the other hand, lost 2.08% after news of the purchase of assets of the bankrupt Rhodium for $185 million through an affiliated company Whinstone. The deal raised concerns among investors.
MARA Holdings (NASDAQ: MARA), formerly known as Marathon Digital Holdings, lost almost 18%. The main reasons are the stagnation of the bitcoin rate and expectations of a weak quarterly report with a drop in earnings per share by more than four times.
Galaxy Digital Holdings (TSX: GLXY) also ended up in the red - a decline of 4.68%. Amid inflation and the threat of a US trade war, the growth of shares of the company operating in various segments of the crypto industry slowed.
Grayscale Bitcoin Trust (NYSE: GBTC), the largest spot bitcoin ETF, fell by 5.77%. Despite the positive trend of other funds, Grayscale has recorded outflows in 9 of the last 10 trading sessions.
Coinbase (NASDAQ: COIN) lost 11.35% of its value. The reason was the correction in the cryptocurrency market. However, talks about a possible takeover of Deribit may improve the outlook.
Block (NYSE: XYZ), known for its crypto investments and payment solutions, added 2.36%. The company is recovering from a December decline caused by US trade tariffs.
PayPal (NASDAQ: PYPL) showed an increase of 3.09%. Positive forecasts from analysts are associated with an increase in market share in Europe and an expansion of the customer base.
Strategy (NASDAQ: MSTR) strengthened by 4.14%, increasing its BTC reserve to more than 500,000 coins. From March 17 to March 23 alone, 6,911 bitcoins were purchased for $584.1 million.
Tesla (NASDAQ: TSLA) remained the leader in terms of capitalization, but its shares fell by 5.6%, mainly due to increased competition in the electric vehicle sector and the negative impact of US tariff policy.
Result: Despite the importance of the presidential initiative, the main driver of fluctuations in crypto company shares were internal processes and macroeconomic factors, including import duties and the instability of the bitcoin exchange rate.
