US President Donald Trump signed an executive order on March 7 that foresees the establishment of a Strategic Bitcoin Reserve and a digital asset stock. This executive order is interpreted as the biggest indicator that the US government has begun to view Bitcoin and other digital assets as a long-term store of value. Following the signing of the executive order, a historic Crypto Summit will be held at the White House today.
The summit will discuss US crypto policies, the financing of the strategic reserve, and the future of the sector. The event brings together leading figures in the sector and regulatory officials in Washington. The meeting will be attended by names such as Coinbase CEO Brian Armstrong, MicroStrategy President Michael Saylor, Gemini founders Cameron and Tyler Winklevoss, as well as Silicon Valley investor David Sacks, who is responsible for the Trump administration's crypto policies.
White House Crypto Summit and Strategic Bitcoin Reserve
The executive order signed by Trump foresees the federal government using its Bitcoin assets as a strategic reserve. David Sacks, who was appointed as the White House's crypto czar, stated that the reserve will consist of approximately 200,000 BTC. These Bitcoins were seized as part of criminal or civil asset forfeiture proceedings in the past and were waiting to be sold until today. However, with this new decree, the US will create a national crypto reserve by holding these assets.
US Treasury Secretary Bessent also said on the subject, "We need to bring Bitcoin into the country." This statement was interpreted as the US not only preserving existing Bitcoin assets for the strategic reserve, but also being able to purchase more Bitcoin in the future.
White House officials will clarify the financing mechanism of the strategic Bitcoin reserve and address possible difficulties regarding Congressional approval. According to Reuters, the US government may consider four different cryptocurrencies as reserves in addition to Bitcoin. Although there is no clear statement on which assets these will be, David Sacks stated that ADA, SOL and XRP were discussed only because they are among the top 5 cryptocurrencies in terms of market value.
Topics to be Discussed at the Crypto Summit
Among the most important agenda items of the summit at the White House are the US's cryptocurrency policies and regulations to be made regarding the future of the sector. The main topics to be discussed at the summit will be:
Strategic Bitcoin Reserve: How will the US government manage its Bitcoins?
New Crypto Regulations: Improving the current legal framework and eliminating regulatory uncertainties regarding the crypto sector.
US Crypto Purchases: Which digital assets will be considered for the strategic reserve.
Market Expectations: How investors and major financial institutions will react to these developments.
The Trump administration has clearly shown that it will continue to follow a crypto-friendly policy. Trump, who promised to support the crypto sector during his election campaign, is showing that he has fulfilled this promise with the Strategic Bitcoin Reserve step.
World Liberty Financial and Crypto Asset Increase
Ahead of the White House Crypto Summit, the decentralized finance initiative World Liberty Financial (WLFI) increased its crypto assets. According to World Liberty Financial’s on-chain data, the company added $10 million worth of Ethereum to its treasury. Arkham Intelligence data revealed that WLFI’s Ethereum holdings increased from 2,200 ETH on Monday to over 7,000 ETH on Thursday.
This development shows World Liberty Financial’s confidence in the US’s crypto policies, while it also indicates that major players in the market are beginning to adapt to the new strategic reserve policy.
Expectations in the Crypto Market
Crypto experts state that the US government’s establishment of a Bitcoin reserve will reduce pressure on the market and may lead to an increase in state-backed institutional purchases. It is also emphasized that this step may encourage other countries to adopt Bitcoin.
The impact of the Trump administration’s crypto-friendly policies on the market is also being closely monitored. The decisions to be made at the summit will directly affect the long-term development of the crypto sector. Therefore, the meeting to be held today has created great excitement not only in the US but also in global crypto markets.
In summary, this critical summit at the White House has the potential to reshape the US’s relationship with digital assets. While the Strategic Bitcoin Reserve is seen as a major step in changing the government’s perspective on crypto, the results of the summit could affect the entire industry. Crypto investors are eagerly waiting to see what roadmap the US will draw.
Author: Besim Şen
