10x Research: Trump's executive order did not meet many people's expectations and there is still no clear guidance on reserve size

Markus Thielen, founder of 10x Research, stated in the latest client report: "Trump has signed an executive order aimed at establishing a strategic Bitcoin reserve. While this marks the beginning of initial action, the details have fallen far short of many expectations. Although other measures may be announced later, the latest developments highlight the huge gap between the ideal scenario and actual policy implementation. We were supposed to release a bearish report this morning to predict this news, as we assessed the risk of disappointment as higher than the possibility of a generally bullish outcome. Although this is progress - officially confirming that the US government holds confiscated Bitcoin indefinitely - there is still no clear guidance on reserve size. According to our estimation, the actual allocation of Bitcoin may be 50% lower than what news reports suggest