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Why Shiba Inu Is Sinking Today

TheMotleyFool 
0 0 14.08.25
Why Shiba Inu Is Sinking Today: https://g.foolcdn.com/editorial/images/829469/shiba-inu.jpg
 

The cryptocurrency Shiba Inu (CRYPTO: SHIB) is falling today, down 6.9% in the last 24 hours as of 12:54 p.m. ET. The leg down comes as the S 500 and Nasdaq Composite were both down modestly.

U.S. Secretary of the Treasury Scott Bessent sent Bitcoin lower after he confirmed the federal government would not look to buy Bitcoin to add to its strategic reserve. The rest of the crypto market followed.

On Fox Business this morning, Secretary Bessent said the government has no plans to buy additional Bitcoin for its strategic reserve. Instead, he confirmed it will build the reserve from coins already seized in law enforcement actions and stop selling those holdings. Bessent said:

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Source Fool.com

Fox Corp. B Stock

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