- Trump’s crypto team confirms Bitcoin reserve study; BTC drops 5% as critics call it a “stalling tactic.”
- Analysts warn “evaluate” signals delays; BTC reserve odds plunge from 65% to under 50% post-presser.
David Sacks, appointed by President Donald Trump to oversee cryptocurrency and artificial intelligence initiatives, held his first press conference on February 4. Joined by congressional leaders such as Banking Committee Chair Tim Scott, Sacks confirmed plans to assess the feasibility of creating a U.S. Bitcoin reserve.
SOON: @davidsacks47 , @SenatorTimScott , @RepFrenchHill , @JohnBoozman , and @CongressmanGT will host a press conference to discuss how the Trump administration and Congress will work together to secure America as a leader in the digital asset ecosystem. https://t.co/8fs9pWZ5tr
— U.S. Senate Banking Committee GOP (@BankingGOP) February 4, 2025
The announcement followed Trump’s earlier executive order directing federal agencies to explore a “national digital asset stockpile” within six months.
Bitcoin’s price fell below $100,000 shortly after the event, marking a 5% decline. ETHNews analysts linked the drop to skepticism over the administration’s commitment.
Wait, Trump said he would do a $BTC Reserve, not promise to "evaluate it."
Evaluate/Study is what Washington does when they don't want to do something. $BTC is down ~5% since this announcement. https://t.co/v0eZnnxLKk pic.twitter.com/ZZGlqoLGxw
— Jim Bianco (@biancoresearch) February 4, 2025
Market researcher Jim Bianco noted that terms like “evaluate” often signal delays in policy implementation.
“Trump initially promised a Bitcoin reserve, not a study. ‘Evaluate’ is what Washington says when it doesn’t plan to act” Bianco stated.
BitMEX founder Arthur Hayes echoed this, cautioning that regulatory processes could extend timelines.
Sacks clarified that the proposed Sovereign Wealth Fund, designed to manage national assets, would operate independently from any Bitcoin reserve . He emphasized that final decisions require confirmed Cabinet Secretaries, a step pending legislative approval.
Senator Cynthia Lummis stressed the need for a legal framework to ensure continuity across administrations.
Fade the reserve.
— Lyn Alden (@LynAldenContact) February 5, 2025
Community reactions diverged. Macro analyst Lyn Alden advised investors to prioritize Bitcoin’s fundamentals over political pledges: “Focus on holding Bitcoin, not reserves.”
The crypto community's impatience is one of it's great strengths and great weaknesses.
So much that this space has hoped for is underway — but the mainstream moves at the speed of months, not days.
Good things come to those who can wait.
— Hunter Horsley (@HHorsley) February 4, 2025
Conversely, Bitwise CEO Hunter Horsely urged patience, arguing that policy shifts unfold gradually.
“Progress takes months, not days. Waiting pays off,” he said.
Market data reflects tempered expectations
Polymarket’s odds of a U.S. Bitcoin reserve by 2025 fell from 65% in January to under 50% post-announcement. Bitcoin’s price mirrored this shift, retreating from a recent peak of $109,000 to $98,000 at publication.
The administration’s next steps remain unclear. While the feasibility study proceeds, the absence of concrete deadlines leaves investors weighing short-term volatility against long-term potential. As debates continue, Bitcoin’s role in national strategy hinges on bipartisan cooperation—a factor as unpredictable as the markets themselves.
