PANews reported on May 20 that according to The Block, the K33 research team suggested that the market pay attention to the progress of cryptocurrency executive orders signed by the Trump administration but not yet implemented. Although the internal execution nodes set by the two executive orders (government cryptocurrency asset inventory completed on April 5, Bitcoin strategic reserve plan submitted on May 5) have passed the deadline, policy details remain undisclosed. Analysts believe that Trump's MEME coin activity on May 22 and Vice President Vance's Bitcoin conference speech on the 28th may reveal specific implementation plans.
The first executive order aims to establish a strategic reserve of 200,000 BTC (worth $20 billion), of which an estimated 94,000 BTC stolen from Bitfinex in 2016 will be returned. K33 believes that Bitfinex's debt token LEO's current 0.15% net asset discount is a buying opportunity, as it may repurchase and burn LEO with the recovered 75,700 bitcoins. Despite Bitcoin breaking through $100,000 for the third time with thin trading, reduced selling pressure indicates increased market acceptance.
