Although the market expressed concern over the announcement of an overarching cryptocurrency reserve, a US Bitcoin Reserve strategy is still expected to be unveiled by President Donald Trump. Indeed, a new report states that the strategy is poised to be a main announcement at the White House Crypto Summit taking place on March 7th.
There are many experts who have expressed concern about the country expanding its reserve beyond Bitcoin. Speaking to CNBC, Michael Saylor projected BTC to eventually reach a $200 trillion market cap. Moreover, he noted that investment in the asset alone could solve the nation’s financial debt crisis.
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US Bitcoin Reserve Strategy to Headline White House Crypto Summit
Since his return to the White House, Donald Trump has sought to overhaul the nation’s crypto policy. From the development of a crypto task force to the announcement of a new digital asset-centered summit at the White House, those efforts have been undeniable.
Now he is set to continue that. On the heels of his crypto reserve announcement, a US Bitcoin reserve strategy is still expected to be unveiled by President Trump. Moreover, it is poised to headline the White House Crypto Summit, according to a report from The Pavlovic.
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US Commerce Secretary Howard Lutnick confirmed as much according to the report. He noted that the president will outline his expectations for the cryptocurrency industry under his administration. Moreover, he will include a BTC reserve strategy. Additionally, he will discuss more broad regulatory plans for the asset class.
“A Bitcoin strategic reserve is something the President’s interested in,” Lutnick said. “He spoke about it all during the campaign trail, and I think you’re going to see it executed Friday,” he added. If it comes to fruition, it could be huge for Bitcoin. The leading crypto has fallen since reaching six figures in late 2024. However, many expect that to turn around soon.