India, March 7 -- Cryptocurrencies languished in the red zone despite the much-awaited decision on a Strategic Bitcoin Reserve in the U.S. Cryptocurrencies have shed close to 3 percent in the past 24 hours as lingering anxiety ahead of the release of the crucial non-farm payrolls data from the U.S. added to the disappointment surrounding the creation of a Bitcoin Reserve.
President Donald J. Trump on Thursday signed an Executive Order to establish a Strategic Bitcoin Reserve and a U.S. Digital Asset Stockpile.
The Strategic Bitcoin Reserve would be capitalized with Bitcoin owned by the Department of Treasury that was forfeited as part of criminal or civil asset forfeiture proceedings. Other agencies would evaluate their legal authority to...