How the No Sell, No Buy New US BTC Reserve Plan Affects the Crypto Market

On March 11, 2025, the daily price of BTC fell below the $77,000 mark; ETH fell by more than 8%, and the market capitalization of new assets and well-known Meme Coins such as XRP and Doge also declined significantly. On March 6, 2025, Trump had just officially signed an executive order on the BTC strategic reserve and the U.S. digital asset reserve, and held the first White House Crypto Asset Summit, which was attended by many investors in the digital asset field. CNBC published an article stating that the volatility of BTC prices was due to investors' attention shifting from the White House Crypto Asset Summit to macroeconomic pressures. U.S. digital asset regulatory official David Sacks believes that the BTC strategic reserve plan will not use fiscal funds to directly acquire digital assets, which can reduce the investment risk of crypto assets, but these plans may disappoint some people in the market. Regarding the BTC strategic reserve, the U.S. will establish the BTC strategic reserve based on the BTC owned by the U.S. Treasury Department, which comes from the confiscated digital assets in law enforcement cases, and the BTC deposited in the strategic reserve will not be sold. In addition, Trump stated on Truth Social in March 2025 that he will also plan to reserve digital assets on ETH, XRP, Solana and Cardano, but has not yet announced the specific asset names. According to the executive order signed by Trump, the U.S. Treasury Secretary and Commerce Secretary are required to develop a "budget-neutral strategy" to acquire more BTC without additional burden on taxpayers; the Treasury Secretary can determine a responsible reserve management strategy. Before Trump signed the executive order to establish the BTC strategic reserve, there was no clear plan within the U.S. federal government agencies to manage digital assets, and there was an imbalance in the ownership, control and management of the digital assets held. It is reported that Trump's formal signing of the executive order to establish the BTC strategic reserve will help solve the above problems and explore a starting plan for centralized and secure management of the government's digital asset reserves, but more specific regulatory plan details have not yet been revealed. The participants in the first White House Crypto Asset Summit, in addition to government officials and legislators, included MicroStrategy executive chairman Michael Saylor; Coinbase co-founder and CEO Brian Armstrong; World Liberty Financial founder Zach Witkoff; investors Cameron Winklevoss and Tyler Winklevoss; entrepreneurs and digital asset reserve policy advocates David Bailey, Michael Saylor, Brian Armstrong and Brad Garlinghouse, who expressed many valuable views on the development of the crypto industry and elaborated on the value proposition of supporting the crypto industry and establishing a BTC reserve, and were optimistic about the cooperation between the crypto industry and the government, and hoped that future regulatory enforcement would be clear and transparent. The analysis of the market value fluctuations of BTC, ETH and Doge on March 11, 2025 shows that the consensus among different analysts is that the future price trend of BTC is closely related to U.S. economic indicators; BTC and central banks are engaged in a high-risk confrontation, and the weakening of the U.S. dollar index may be favorable for the appreciation of crypto asset market value, but caution is still needed.