“From this day onwards, America will follow the rule that everyone in Bitcoin know very well – never sell your bitcoin.” -President Donald Trump, 3/7/25 at the Inaugural White House Summit
The President of the United States is now reciting the famous Bitcoin maxims regarding the American Bitcoin Stack.
Wild.
It is clear that he received the message that Bitcoin is something completely different from all other digital resources.
He demonstrated it not only from what he said to the cryptographer of today, but also by signing an executive order (EO) last night that established a strategic bitcoin reserve (SBR) regardless of an escort of digital activities.
The strategic Bitcoin reserve
As for the SBR, the president said today that the United States plan to retain the bitcoin which he has in his possession, unlike the previous administrations that have sold large sums.
“Unfortunately, in recent years, the United States government has sold tens of thousands of bitcoins (200,000, for some estimates) that were worth billions and billions of dollars if they hadn’t sold them,” said President Trump.
Having said that, the president also shared that the members of his administration will pursue roads to accumulate Bitcoin, without expenses for the American public.
“The Treasury and Trade Departments will explore new paths to accumulate further Bitcoin participations for the reserve, provided that it has not been made free of charge to taxpayers,” he said.
“We do not want any cost for taxpayers,” he reiterated, highlighting the idea that the United States government plans to accumulate Bitcoin in a “neutral budget” (to borrow the language from the way last night).
Participants
The Treasury Secretary Scott Besent and the Secretary of Commerce Howard Lutnick were present at the top together with about 30 important members of the Bitcoin and Crypto industry, including the executive president of Strategy Michael Saylor, the Coinbase CEO Brian Armstrong, the co-founders of Gemini Cameron and Tyler Winklevoss and BTC Inc.
Other members of the Trump Administration were also present, including the head of the Small Business Administration Kelly Loeffler and the Czar David Sacks Caseter of the White House.
Both Sacks and Loeffler praised the rhythm in which Trump is making progress with the orders and legislation of Bitcoin and Crypto.
“Your administration is moving to technology [startup] Speed, “said Sacks.
“It is actually faster than any startup that I was part of,” added the venture capitalist, known to invest in many technological startups during his career.
The secretary Lutnick guaranteed for the new knowledge of Bitcoin and cryptocurrencies of President Trump, adding that the president really came to embrace the technology.
“Blockchain and Bitcoin technology is a fundamental part [the President’s] Thinking, “Lutnick said.
“We are using the blockchain. We are using Bitcoin. We will use digital resources for [push] Next, and Donald Trump is opening the road, “he added.
Stablecoins as money, bitcoin as a value shop
Now, before going to get too excited for the secretary Lutnick who talks about “using” Bitcoin, please know that with all Bitcoin chatter at the event, not a word of Bitcoin used as money has been pronounced. Instead, it has been defined exclusively as savings technology.
As for digital activities that the administration considers money, Stablecoins are alone.
And the secretary Bessent has strengthened this message, recently pushed both the first press conference of the United States on digital resources and the first below the hearing of digital resources, at the top.
“We will think about it in the Stablecoin regime,” said secretary Beesent. “And as President Trump directed, we will keep the United States [dollar] The dominant reserve currency in the world and we will use the Stablecoins to do it. “
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What has not been discussed
Furthermore, on a preview call of the summit with high officials of the White House this morning, one of the officials dissipated the rumor according to which the administration would remove the tax on the capital gains from crypt sales (which is also applicable when spent Bitcoin or Crypto), clearly affirming that the administration does not plan to do so and that the topic would not even be set up at the top. (It wasn’t.)
On something else that was not discussed at the top was if the US Marshalls provided the Trump administration with an adequate audit of bitcoin and other digital resources in custody (the last time it has been reported, apparently they have no short of the idea of what they are keeping). The way in which the government provides for guaranteeing the private keys of Bitcoin it maintains in the SBR. (I planned to investigate the latter, but the members of the press present at the event were not authorized to ask questions.)
But let’s not lose some of the current details here.
It was a good day
Instead, we take a row from Brian Armstrong and recognize that today it was, according to many standards, a good day.
“It was a rather historical moment for the cryptocurrency industry,” said Armstrong in Bitcoin Magazine after the summit had ended.
“President Trump has really rejected life in this sector. A few years ago, he seemed to be under attack and some people tried to illegally kill the entire sector. What a change of sea to invite to the White House and have the most pro-crypt president ever, “he added.
Armstrong also observed that, then, he wants to see the approved legislation to help make concrete some of the positive Bitcoin and cryptocurrency initiatives set in motion under the Trump administration.
“The congress is really doing good progress in this regard with Stablecoin and legislation on the market structure and, hopefully, also encoding this strategic reserve of Bitcoin at the end.”