Trump to Announce Creation of Bitcoin Strategic Reserve at White House Crypto Summit
President Donald Trump is set to make a decisive move in the regulation of digital assets in the United States. According to Secretary of Commerce Howard Lutnick, the White House occupant will announce the creation of a Bitcoin strategic reserve during the first crypto summit organized by his administration this Friday. This initiative marks a clear departure from the restrictive policies of the Biden era and demonstrates a strong commitment to the development of the cryptocurrency industry on American soil.
A Historic Announcement Expected at the White House Crypto Summit
During an interview with The Pavlovic Today, Howard Lutnick confirmed that Trump considers Bitcoin as a full-fledged strategic asset. “The President definitely believes that there should be a Bitcoin strategic reserve,” he said. This approach could give BTC a privileged status within the US economy, akin to gold in the federal reserves.
While Bitcoin receives special attention, other cryptocurrencies will not be left behind. Lutnick stated that Trump will also present a management model for other digital assets, albeit with a different, but positive, treatment. In his post on Truth Social, Trump explicitly mentions XRP, SOL, and ADA as part of his reserve project, causing their prices to soar in a single day.
A Departure from the Biden Administration
Since returning to the political scene, Trump has positioned himself as a staunch advocate for cryptocurrencies, denouncing the “corrupt attacks by the Biden administration” against the sector. In his first week in office, he signed Executive Order 14178, affirming his administration’s commitment to fostering the growth and adoption of digital assets.
This approach contrasts sharply with that of his predecessor, marked by regulatory investigations and legal proceedings against several major players in the crypto industry. With his ambition to make the United States the “global crypto capital,” Trump aims to reverse this trend and attract innovators back to American soil.
The Crypto Summit: A Key Step for Regulation in the United States
Chaired by David Sacks and Bo Hines, the White House crypto summit aims to establish clearer and more favorable regulation for financial innovation. The event will bring together industry representatives and policymakers to discuss regulatory issues, economic opportunities, and the role of the United States in the global digital finance landscape.
With this imminent announcement, Trump aims to reposition the United States as a leader in the cryptocurrency market. Despite the extreme volatility in the crypto market in recent days, this announcement is unlikely to slow down BTC’s movements.
