Trump Establishes U.S. Bitcoin Reserve

CRYPTO
Trump Establishes U.S. Bitcoin Reserve

President Donald Trump fulfilled a major crypto industry goal by signing an executive order to create a strategic Bitcoin reserve and digital asset stockpile. White House AI and crypto czar David Sacks announced the move, emphasizing Trump’s commitment to making the U.S. the “crypto capital of the world.”

Instead of buying Bitcoin, the government will use 200,000 BTC ($17.4 billion) seized through criminal and civil forfeitures. Sacks described the reserve as a “digital Fort Knox.” Bitcoin briefly dropped 5% below $85,000 before rebounding to $88,000.

The U.S. will also hold other confiscated cryptocurrencies in a separate stockpile, though Sacks did not specify which ones. Trump had previously mentioned XRP, Cardano, Solana, and Ethereum.

This move follows Trump’s campaign promise at Bitcoin 2024, where he won support from crypto executives like Jesse Powell and the Winklevoss twins. The government is also exploring budget-neutral strategies to acquire more Bitcoin.

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TECH
Musk’s Politics Fuel Tesla Uncertainty

Tesla’s stock has suffered its longest losing streak as a public company, falling for seven consecutive weeks since Elon Musk joined the Trump administration. The stock closed at $270.48 on Friday, down over 10% this week and at its lowest level since Election Day. Since peaking at $480 in December, Tesla has lost over $800 billion in market cap.

Wall Street firms, including Bank of America, Goldman Sachs, and Baird, slashed their price targets, citing declining EV sales and a lack of updates on a low-cost model. Analysts also point to Tesla’s competitive struggles in China and production challenges with the new Model Y.

Beyond financial concerns, Musk’s involvement in politics is raising uncertainty. His role in the Trump administration’s deregulation efforts and controversial social media posts have led to rising anti-Tesla sentiment and protests. Despite this, Wedbush and TD Cowen remain bullish, expecting Tesla’s next product cycle to reinvigorate growth.

TECH
Microsoft Develops Rival AI Models

Microsoft has developed its own in-house AI models, aiming to compete with industry leaders like OpenAI and Anthropic, according to a source familiar with the project.

The MAI models have shown promising test results and could power elements of Copilot, Microsoft’s AI assistant designed for a range of tasks, from document editing to conference call support. Additionally, the company is developing reasoning models to handle more complex, human-like problem-solving.

Microsoft, which has invested $13 billion in OpenAI, has been expanding its AI strategy to reduce reliance on its partner. The companies recently renegotiated their deal, allowing OpenAI to work with other cloud providers while maintaining Microsoft’s priority access.

The tech giant has also tested AI models from Anthropic, DeepSeek, Meta, and xAI to back up Copilot. Microsoft CFO Amy Hood emphasized that the company values having multiple AI options, ensuring long-term flexibility and leadership in the AI space.

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