Here’s what happened in crypto today

Today in crypto, CZ asks Elon Musk to ban automated bots on X, disappointment surrounding the US Strategic Bitcoin Reserve signals unrealistic investor expectations, and according to regulatory experts, Michael Saylor advocated for an aggressive US government approach to Bitcoin accumulation.

CZ asks Elon Musk to get rid of automated bots on X

Binance co-founder Changpeng Zhao (CZ) asked Elon Musk to ban automated bots on X — a problem that the crypto community has grappled with for years now.

“I think X should ban all bots. I only want to interact with humans here — not ‘automated,'” CZ wrote in a March 9 X post.

Automated bots amplify messages by liking or retweeting posts and can even comment on posts, which is often done in a coordinated fashion by an individual or teams running bot farms.

These automated bots often pose as crypto influencers or executives from the digital asset industry to peddle fake tokens, fraudulent airdrop scams, and promote phishing links designed to steal funds from unsuspecting users.

A 2023 study from the Network Contagion Research Institute also found that coordinated bot attacks were used to manipulate crypto prices.

Bitcoin reserve backlash signals unrealistic industry expectations

The widespread disappointment surrounding the US Strategic Bitcoin Reserve — hailed as a historic step for Bitcoin adoption — suggests unrealistic investor expectations, according to regulatory experts.

President Donald Trump signed an executive order on March 7, which will utilize Bitcoin (BTC) seized in government criminal cases rather than purchasing the asset directly from the market. The announcement triggered a more than 6% drop in Bitcoin’s price, falling from $90,400 to $84,979, according to Cointelegraph Markets Pro data.

The reaction signals unrealistic industry expectations, according to Anastasija Plotnikova, co-founder and CEO of Fideum, a regulatory and blockchain infrastructure firm focused on institutions.

“It was very clear that the US government could utilize the existing BTC in their possession, aka seized funds,” she told Cointelegraph, adding:

“It is bizarre to see such a big public disappointment coming from some industry players. […] Not that long ago, even the idea of BTC Reserve held and supported by a federal government was a revolutionary idea, and now we see a very solid implementation.”

The Bitcoin reserve is a “cautious” approach with taxpayer funds, which “make this decision well aligned with the messaging from this administration,” added the regulatory expert.

Michael Saylor pushes US gov’t to purchase up to 25% of Bitcoin supply

Strategy founder Michael Saylor has proposed that the United States government aims to acquire up to 25% of Bitcoin’s total supply over the next decade for its Strategic Bitcoin Reserve.

“Acquire 5-25% of the Bitcoin network in trust for the nation through consistent, programmatic daily purchases between 2025 and 2035, when 99% of all BTC will have been issued,” Saylor wrote in a document titled “A Digital Assets Strategy to Dominate the 21st Century Global Economy.” 

Saylor presented the document to US President Donald Trump, government executives, and global crypto leaders at the White House Crypto Summit on March 7.

He explained that the government should stick to a “Never sell your Bitcoin” policy, predicting that by 2045, the Strategic Bitcoin Reserve could generate over $10 trillion annually, and serve as a “perpetual source of prosperity” for Americans.