“From that day, America will follow the rule that everyone in Bitcoin knows very well – never sell your bitcoin.” -President Donald Trump, 3/7/25 at the first crypto summit in the White House
The President of the United States now recites popular bitcoin maxims with regard to American Bitcoin battery.
Savage.
It is clear that he has received the message that Bitcoin is quite different from all other digital assets.
He proved it not only by what he said at the top of today’s cryptography, but also by signing a Executive order (EO) last night This has established a Bitcoin Strategic Reserve (SBR) regardless of a stock of digital assets.
Bitcoin Strategic Reserve
With regard to the SBR, the president said today that the United States planned to keep the bitcoin he has in his possession, unlike the previous administrations that have sold massive sums.
“Unfortunately, in recent years, the American government has stupidly sold tens of thousands of bitcoin (200,000, by Certain estimates) It was worth billions and billions of dollars if they had not sold them, “said President Trump.
That said, the president also shared that members of his administration will continue tracks to accumulate Bitcoin – at no cost for the American public.
“The Treasury and Commerce departments will explore new paths to accumulate additional Bitcoin holders for the reserve, provided that this is done free of charge to taxpayers,” he said.
“We do not want a cost for taxpayers,” he reiterated, stressing the idea that the US government plans to raise Bitcoin in a “neutral budget” manner (to borrow the language at the end of last night).
Participants
The secretary of the Treasury Scott Bessent and the Secretary of Commerce Howard Lunick were present at the top alongside around thirty eminent members of the Bitcoin and Crypto industry, notably the executive president of the strategy Michael Saylor, the CEO of Coinbase Brian Armstrong, the gemini co -founder Bailley.
Other members of the Trump administration, including the head of the small businesses, Kelly Loeffler and the cryptography of the White House, the Tsar David Sacks, were also present.
The bags and Loeffler congratulated the rhythm to which Trump progresses with Bitcoin and Crypto Executive Ormers and Legislation.
“Your administration is moving at the speed of technology (startup),” said Sacks.
“It is actually faster than any startup I have been a part,” added the venture capital, well known for having invested in many technological startups during his career.
Secretary Lutnick guaranteed himself for the new knowledge of Bitcoin and the Crypto of President Trump, adding that the president really came to adopt technology.
“Blockchain and Bitcoin technology is a key element in thought (of the president),” said Libnick.
“We use the blockchain. We use Bitcoin. We will use digital assets to (push) forward, and Donald Trump opens the way, “he added.
Stablecoins as money, Bitcoin as a value store
Now, before leaving and too excited by secretary Lutnick speaking of “the use” of Bitcoin, know that with all the bitcoin bullish of the event, not a bitcoin word used as money has been pronounced. Instead, it was only called savings technology.
With regard to the digital assets that the administration considers as money, the stablecoins are autonomous.
And secretary Bessente has strengthened this message, more recently pushed to the first two American press conference on digital assets and the First sub-comity of the hearing of digital assetsat the top.
“We are going to think a lot about the Stablecoin regime,” said secretary Bessent. “And as President Trump has managed, we will keep the United States (dollar) the dominant reserve currency worldwide, and we will use stablecoins to do so.”
(And before going to curse the secretary to be in your breath while you read this, please note that he also dropped an absolutely banger banger in a single pro-bitcoin liner during the event: “President Trump creates assets for the American people while most of the ancient presidents have created debt.”)
Which was not discussed
In addition, during an overview of the summit with senior managers of the White House this morning, one of the officials dissipated the rumor that the administration Remove the tax on capital gains in crypto sales (which is also applicable when you spend Bitcoin or Crypto), clearly declaring that the administration does not intend to do so and that the subject would not even be discussed at the top. (This was not the case.)
Something else that was not discussed at the summit was whether the American marshalls provided or not the Trump administration a real Bitcoin audit and other digital assets under their custody (finally it was reported, they apparently Little idea of what they hold). It is also not mentioned in the way the government plans to secure the private keys to bitcoin which it keeps in the SBR. (I had planned to find out about it, 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 minor details here.
It was a good day
Instead, let’s make a queue by Brian Armstrong and recognize that today was, according to many standards, a good day.
“It was a fairly historic moment for the cryptography industry,” Armstrong told Bitcoin Magazine after the summit conclusion.
“President Trump really returned life to this industry. A few years ago, we felt that we were attacked, and some people tried to illegally kill the whole industry. What a sea change to invite to the White House and have the most pro-Crypto president of all time, “he added.
Armstrong also noted that he then wanted to see legislation adopted to help make some of the positive Bitcoin and Crypto initiatives in the Trump administration.
“Congress makes very good progress on this subject with the legislation on the structure of the stable and the structure of the market, and, hopefully, codify this Bitcoin strategic reserve also.”
