Without a doubt, March 6 will go down in crypto history as the day when the United States—and indeed the world—legitimized Bitcoin as a worthy asset class and store of value. President Donald Trump, less than five days after mentioning his plans to create a crypto and Bitcoin reserve, officially signed an executive order that will, first and foremost, establish a Bitcoin Reserve.
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President Creates Bitcoin Reserve
The reserve is foundational and will initially comprise BTC seized from criminal enterprises, scammers, and hacks. Currently, the US government holds over 198,000 BTC. The government owns multiple other NFTs and tokens, whose exact figures will be verified once an official audit is completed.
More BTC will be acquired over the coming years, but the approach will be “budget-neutral,” meaning the strategy set for implementation by Secretaries Scott Bessent and Howard Lutnick won’t involve buying BTC or other coins, including some of the best meme coins to buy, directly from secondary markets.
This conservative stance, far from what traders expected, explains why crypto prices are retracting, falling from yesterday’s highs of around $93,000.
Trump signed the executive order less than 24 hours before yet another historic event. Today, 7 March, he will host the first Crypto Summit at the White House.
Public details indicate that, although the president will host, it will be chaired by David Sacks – the White House Crypto and AI Czar. Among those set to attend are Ripple CEO Brad Garlinghouse, Binance CEO Changpeng Zhao, Coinbase’s Brian Armstrong, and other crypto executives, founders, investors, and regulators.
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What to Expect From the Crypto Summit?
Trump is pro-crypto, and during his campaign, he promised to create an environment that fosters growth and encourages innovation.
The creation of a Bitcoin and crypto reserve demonstrates his intention to fulfill one of his many promises.
Therefore, analysts expect that discussions at this summit will involve talks about expanding the Bitcoin Reserve to include other assets. Clarity on which specific tokens will be added will be crucial, as will details on how the government plans to source them.
Earlier, Trump posted on Truth Social that the government would create a reserve including altcoins like XRP, ADA, and SOL. These are among the best cryptos to buy in 2025 and have founders from the US.
Additionally, the industry views this summit as an opportunity for a regulatory reset after the burdens imposed by the SEC on crypto firms when Gary Gensler was in charge.
As part of the president’s executive order, the government will audit its digital holdings. From this, policies may emerge guiding crypto custody, as well as further guidance on crypto exchanges, stablecoins. This is a priority for Trump and Sacks—and DeFi.
It’s also possible that discussions will cover tax incentives to encourage crypto businesses, mainly mining and data centers, to launch in the US. This will create jobs and generate revenue for the government. Clearer laws would benefit businesses and reduce the uncertainty that investors and founders had grown accustomed to when Joe Biden was in power.
- President Donald Trump signs executive order creating a Bitcoin Reserve
- Trump to host Crypto Summit in the White House today, on March 7
- Industry leaders expect clarity, especially on Crypto Reserve asset structure. There will likely be discussions in regulations, stablecoins, DeFi, and crypto taxation.
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The post What to Expect From White House Crypto Summit After Crypto Reserve News? appeared first on 99Bitcoins.
