White House Draws Line Between Bitcoin And Digital Assets At Its First Crypto Summit, In EO
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“From this day on, America will follow the rule that everyone in Bitcoin knows very well — never sell your Bitcoin.” -President Donald Trump, 3/7/25 at inaugural White House Crypto Summit The President of the United States is now reciting popular Bitcoin maxims as they pertain to America’s bitcoin stack. Wild. It’s clear that he’s gotten the message that bitcoin is something altogether different than all other digital assets. He’s proven this not only by what he said at today’s Crypto Summit, but also by signing an executive order (EO) last night that established a Strategic Bitcoin Reserve (SBR) independently of a Digital Asset stockpile. The Strategic Bitcoin Reserve Regarding the SBR, the President said today that the U.S. plans to hold onto the bitcoin it has in its possession, unlike previous administrations who have sold massive sums of it. “Unfortunately, in recent years, the U.S. government has foolishly sold tens of thousands of bitcoin (200,000, by some estimates) that were worth billions and billions of dollars had they not sold them,” said President Trump. That said, the President also shared that members of his administration will pursue avenues to accumulate bitcoin — at no expense to the American public. “The Treasury and Commerce departments will explore new pathways to accumulate additional bitcoin holdings for the reserve, provided it’s done at no cost to the taxpayers,” he said. “We don’t want any cost to the taxpayers,” he reiterated, highlighting the notion that the U.S. government plans to amass bitcoin in a “budget-neutral” (to borrow language from last night’s EO) manner. Attendees Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick were present at the summit alongside approximately 30 prominent members of the Bitcoin and crypto industry, including Strategy Executive Chairman Michael Saylor, Coinbase CEO Brian Armstrong, Gemini co-founders Cameron and…
Filed under: News - @ March 8, 2025 3:18 am