7 Mar, 17:08

Bitcoin switches to growth, climbs above $90,000

Earlier, the value of the cryptocurrency fell to $85,700 after US President Donald Trump signed a decree on the formation of a strategic cryptocurrency reserve of bitcoins

MOSCOW, March 7. /TASS/. The price of Bitcoin switched to growth in the course of trading and rose above $90,000, according to the Binance platform.

Earlier, the value of the cryptocurrency fell to $85,700 after US President Donald Trump signed a decree on the formation of a strategic cryptocurrency reserve of bitcoins.

As of 05:50 p.m. Moscow time, the value of bitcoin grew by 1.04% to $90,861. By 06:05 p.m. Moscow time, the price of the cryptocurrency slowed down and was at $90,607 (+ 0.38%).

Meanwhile, the value of the Ethereum cryptocurrency lost 0.1%, falling to $2,230, the Cardano cryptocurrency lost 4.34% falling to $0.8812, Solana grew by 0.14% to $147.04, Ripple fell by 1.58%, to $2.546.

According to Binance as of 04:04 a.m. Moscow time on March 7, after the signing of the decree on the formation of the crypto reserve, the value of Bitcoin fell and was at $85,724 (-4.89%), the price of Ethereum was at $2,118 (-5.36%), Cardano lost 12.03%, falling to $0.8384, Solana fell by 5.76% to$136.67, Ripple fell by 3.35% to $2.4.

US President Donald Trump signed a decree on the formation of a strategic cryptocurrency reserve of Bitcoin. As investor David Sachs, who was appointed the AI and cryptocurrency chief at the White House, reported on the social network X, the reserve may consist of approximately 200,000 bitcoins. The Reserve will be capitalized with Bitcoin owned by the federal government that was forfeited as part of criminal or civil asset forfeiture proceedings, Sachs said.

Bitcoin is a decentralized system of a crypto currency of the same name based on the blockchain technology, which can be mined by any user - system participants. The concept was published in November 2008 by its author (possibly a group of authors) under the pseudonym Satoshi Nakamoto.

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