“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 america is now reciting widespread Bitcoin maxims as they pertain to America’s bitcoin stack.
Wild.
It’s clear that he’s gotten the message that bitcoin is one thing altogether completely different than all different digital belongings.
He’s confirmed this not solely by what he mentioned at at the moment’s Crypto Summit, but additionally by signing an government order (EO) final evening that established a Strategic Bitcoin Reserve (SBR) independently of a Digital Asset stockpile.
The Strategic Bitcoin Reserve
Relating to the SBR, the President mentioned at the moment that the U.S. plans to carry onto the bitcoin it has in its possession, in contrast to earlier administrations who’ve bought huge 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,” mentioned President Trump.
That mentioned, the President additionally shared that members of his administration will pursue avenues to build up 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 mentioned.
“We don’t want any cost to the taxpayers,” he reiterated, highlighting the notion that the U.S. authorities plans to amass bitcoin in a “budget-neutral” (to borrow language from final evening’s EO) method.
Attendees
Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick had been current on the summit alongside roughly 30 outstanding members of the Bitcoin and crypto trade, together with Technique Government Chairman Michael Saylor, Coinbase CEO Brian Armstrong, Gemini co-founders Cameron and Tyler Winklevoss, and BTC Inc. CEO David Bailey.
Different members of the Trump administration, together with head of Small Enterprise Administration Kelly Loeffler and White House Crypto Czar David Sacks, had been additionally in attendance.
Each Sacks and Loeffler praised the tempo at which Trump is making progress with Bitcoin and crypto government orders and laws.
“Your administration is moving at tech [startup] speed,” mentioned Sacks.
“It’s actually faster than any startup that I’ve been part of,” added the enterprise capitalist, well-known for investing in lots of tech startups over the course of his profession.
Secretary Lutnick vouched for President Trump’s newfound Bitcoin and crypto information, including that the President has really come to embrace the know-how.
“Blockchain and Bitcoin technology are a key part of [the President’s] thinking,” mentioned Lutnick.
“We’re using blockchain. We’re using Bitcoin. We’re going to use digital assets to [push] forward, and Donald Trump is leading the way,” he added.
Stablecoins As Cash, Bitcoin As Retailer Of Worth
Now, earlier than you go and get too enthusiastic about Secretary Lutnick speaking about “using” bitcoin, please know that with all of the bullish bitcoin discuss on the occasion, not a phrase of bitcoin getting used as cash was uttered. Instead, it was solely known as a financial savings know-how.
So far as digital belongings that the administration views as cash, stablecoins stand alone.
And Secretary Bessent bolstered this message, most not too long ago pushed at each the primary U.S. Press Convention on Digital Assets and the primary Subcommittee on Digital Assets listening to, on the summit.
“We are going to put a lot of thought into the stablecoin regime,” mentioned Secretary Bessent. “And as President Trump has directed, we are going to keep the U.S. [dollar] the dominant reserve currency in the world, and we will use stablecoins to do that.”
(And earlier than you go cursing Secretary Bessent beneath your breath as you learn this, please be aware that he additionally dropped a completely banger of a pro-bitcoin one-liner on the occasion: “President Trump is creating assets for the American people while most past presidents have created debt.”)
What Wasn’t Mentioned
What’s extra, on a summit preview name with senior White House officers this morning, one of many officers dispelled the rumor that the administration would take away the capital positive factors tax from crypto gross sales (which can also be relevant if you spend bitcoin or crypto), clearly stating that the administration has no plans to do that and that the subject wouldn’t even be broached on the summit. (It wasn’t.)
One thing else that wasn’t mentioned on the summit was whether or not or not the U.S. Marshalls have offered the Trump administration with a correct audit of the bitcoin and different digital belongings of their custody (final it was reported, they apparently have little concept of what they’re holding). Additionally unmentioned was how the federal government plans to safe the personal keys to the bitcoin it retains within the SBR. (I deliberate to inquire concerning the latter, however the members of the press current on the occasion weren’t permitted to ask questions.)
However let’s not get misplaced in a number of the presently minor particulars right here.
It Was A Good Day
Instead, let’s take a queue from Brian Armstrong, and acknowledge that at the moment was, by many requirements, a superb day.
“It was a pretty historic moment for the crypto industry,” Armstrong advised Bitcoin Journal after the summit had concluded.
“President Trump really breathed life back into this industry. A few years ago, it felt like we were under attack, and some folks tried to unlawfully kill the whole industry. What a sea change to be invited into the White House and to have the most pro-crypto president ever,” he added.
Armstrong additionally famous that, subsequent, he desires to see laws handed to assist make concrete a number of the optimistic Bitcoin and crypto initiatives set in movement beneath the Trump administration.
“Congress is making really good progress on this with stablecoin and market structure legislation, and hopefully codifying this Strategic Bitcoin Reserve eventually, as well.”
