The order of President Donald Trump to establish a Bitcoin reserve (BTC) aims to set up the original cryptocurrency as an American reserve which deserves special treatment outside other cryptographic assets, according to a senior white house.
The additional crypto stock of the prescription of other assets will only bring together those obtained by the United States government in crisis, said the manager on Friday, a few hours before a summit in afternoon cryptography to the White House. The Bitcoin reserve, which, according to the official, will start with around 200,000 bitcoin in the hands of government, could obtain active investments in the future, if senior administration officials can find means to put money without relying on taxpayers’ funds.
Meanwhile, the federal government will embark on an audit to determine exactly how much it currently has in the crypto which will be transferred to the new funds, said the manager.
Read more: Trump orders the Bitcoin reserve stock of Fort Knox “and digital assets
The Friday summit will host a long list of cryptographic leaders – including Coinbase, Ripple, Kraken, Gemini, Chainlink and Robinhood senior executives – to offer their point of view on industry policy during a round meeting with officials of the Trump administration.
Trump should also appear at the event at 3 p.m., where he should talk about the decree he signed on Thursday evening which directed the creation of the American Bitcoin reserve. The reserve – including also the second stock for all other cryptographic assets – will only hold digital assets seized through criminal and civil cases and not yet an active purchasing program, which has been a disappointment for certain industry observers.
The White House maintains that a lack of foresight on the conservation of the crypto previously seized cost about $ 17 billion in the United States. The new reserve plans to hold Bitcoin for a long period not defined. The administration considers Bitcoin as the most decentralized cryptocurrency that is protected against pirates, limited in supply and has high value, said the official.
Because decrees such as the one who calls for this new reserve are not a permanent law, the manager said that additional legislative measures would be welcome to cement action.
The next summit marks a major turning point for the cryptography industry in the United States, signaling a spectacular reversal of the reputation bourber of the collapse of 2022 to this invitation to share the objectives of the sector with a friendly white house.
The Congress led by Les Républicains, at the start of this new session, has so far shown an increase in support for cryptography. This week, the Senate voted massively to promote an effort to erase a cryptographic tax rule instituted by internal income services at the end of the Biden administration.
The cryptographic industry rumors factory predicted that tax problems could be raised at the Friday summit, but the manager said that would not be the case, and that the event will be a simple chance to highlight the administration’s intention to withdraw the policies of the time of former president Joe Biden.
The official also addressed the frenzy of the industry that broke out after Trump published days on other assets that are part of his reserve plan, saying that the sector read too much in the call of the president of popular cryptographic assets.
Update (March 7, 2025, 15:35 UTC): Add additional comments from the White House official.
Update (March 7, 2025, 15:46 UTC): Add the comment of the White House manager on taxation.
Update (March 7, 2025, 15:56 UTC): Add the comment of the White House manager on the non -BTC asset stock.
