“From this day America will follow the rule that everyone in Bitcoin knows very well – never sell your Bitcoin.” -President Donald Trump, 3/7/25 on opening the white house Crypto Summit
The president of the United States now recites popular Bitcoin Maxims when they relate to America’s Bitcoin stack.
Wild.
Obviously, he has been told that Bitcoin is something completely different from all other digital assets.
He has proven this not only from what he said on today’s Crypto Summit, but also by signing a executive order (EO) last night that established a strategic Bitcoin Reserve (SBR) independently of a digital asset storage.
The strategic bitcoin -reserve
As for SBR, the president said today that the United States is planning to hold on to the bitcoin it has in its possession, as opposed to previous administrations that have sold massive amounts of it.
“Unfortunately, the US government has in recent years fooled sold tens of thousands of Bitcoin (200,000, after some estimates) worth billions and billions of dollars if they hadn’t sold them,” President Trump said.
That said, the president also shared that members of his administration will pursue opportunities to accumulate Bitcoin – at no cost to the US public.
“The treasury and trade departments will explore new ways to gather additional bitcoin stocks for the reserve, provided it is not done at no cost to the taxpayer,” he said.
“We do not want any costs for the taxpayer,” he repeated, highlighting the notion that the US government plans to bring together Bitcoin in a “budget neutral” (to borrow language from yesterday’s eo) way.
Participants
Treasury Secretary Scott Bessent and Trade Secretary Howard Lutnick were present at the summit along with about 30 prominent members of Bitcoin and Crypto Industry, including strategy executive chairman Michael Saylor, Coinbase CEO Brian Armstrong, Gemini co-founder Cameron and Tyler Wineklevoss and BTC Inc. CEO DAVID BAILEY.
Other members of the Trump administration, including the head of Small Business Administration Kelly Loeffler and the White House Crypto Czar David Sacks, were also present.
Both sacks and Loeffler praised the pace in which Trump makes progress with Bitcoin and Crypto -Operating orders and legislation.
“Your administration is moving on tech [startup] speed, ”said sacks.
“It’s actually faster than any start -up that I’ve been a part of,” the venture capitalist added, known for investing in many technological startups during his career.
Secretary Lutnick claimed President Trump’s newfound Bitcoin and Crypto Knowledge, adding that the president has really come to embrace the technology.
“Blockchain and Bitcoin technology is an important part of [the President’s] Thinking, ”Lutnick said.
“We use Blockchain. We use Bitcoin. We use digital assets to [push] Forward, and Donald Trump is a leader, ”he added.
Stableecoins like money, bitcoin as value of value
Now, before you go and get too excited about secretary Lutnick, who talks about “using” Bitcoin, you need to know that with all the Bullish Bitcoin speech on the event, not a word about Bitcoin used as money was provided. Instead, it was referred to solely as a savings technology.
As regards digital assets that the administration considers money, stablecoins stand alone.
And Secretary Bessent reinforced this announcement, most recently the pressure on both the first US press conference on digital assets and the first subcommittee for consultation of digital assets, at the summit.
“We want to think a lot about the stablecoin regime,” said Secretary Bessent. “And as President Trump has directed we will keep the United States [dollar] The dominant reserve currency in the world and we will use stableecoins to do so. “
(And before you curse Secretary Bessent during your breath, when you read this, note that he also dropped an absolute bang of a pro-bitcoin-en-lining at the event: “President Trump creates assets for the American people, while most former presidents have created debt.”)
What was not discussed
More is, on a top test call with senior with senior in the White House this morning, one of the officials expelled the rumor that the administration would remove the capital gains tax from crypto sales (which also applies when using Bitcoin or Crypto), which clearly states that the administration has no plans to do so and that the subject would not even be brought to the top. (It wasn’t.)
Something else that was not discussed at the summit was whether the American Marshalls have given the Trump administration a proper revision of Bitcoin and other digital assets in their custody (lastly it was reported, they seem to have little idea of what they are holding). Untmentioned was also how the government plans to secure the private keys to the bitcoin it holds in SBR. (I planned to ask about the latter, but the members of the press present at the event were not allowed to ask questions.)
But let’s not get lost in some of the currently smaller details here.
It was a nice day
Instead, let’s take a queue from Brian Armstrong and acknowledge that today was after many standards a good day.
“It was a pretty historic moment for the crypto industry,” Armstrong told the Bitcoin magazine after the summit was completed.
“President Trump really breathed life back in this industry. A few years ago, it felt like we were under attack and some people tried to illegally kill the entire industry. What a sea change should be invited into the White House and have the most pro-crrypto president ever, ”he added.
Armstrong also noted that he next will see legislation adopted to make concrete some of the positive Bitcoin and cryptoinitiatives that were launched under the Trump administration.
“Congress makes really good progress with this with stableecoin and market structure legislation and hopefully codifies this strategic Bitcoin reserve eventually too.”