Howard Lutnick: Trump to Announce Bitcoin Reserve Strategy at White House Crypto Event
President Donald Trump is anticipated to make a significant announcement regarding cryptocurrency policy this week, including a plan for a strategic Bitcoin reserve, as confirmed by Commerce Secretary Howard Lutnick. In an exclusive interview with Ksenija Pavlovic McAteer of The Pavlovic Today before the White House crypto summit, Lutnik mentioned that Trump, who has been increasingly supportive of the digital asset industry, will reveal his vision for Bitcoin and broader cryptocurrency regulation.
“The President definitely believes in having a Bitcoin strategic reserve,” stated Secretary Lutnick. He hinted at potential details on how other cryptocurrencies will be handled, with an unveiling of the model expected during the summit. Trump has been vocal about his positive stance on cryptocurrencies, as evident in a recent post on Truth Social, emphasizing the establishment of a U.S. Crypto Reserve to boost the industry that faced challenges during the Biden administration. The Executive Order on Digital Assets directed the Presidential Working Group to progress on a Crypto Strategic Reserve embracing XRP, SOL, and ADA with the aim of making the U.S. the Crypto Capital of the World.
Lutnick emphasized that Bitcoin will have a special status under Trump’s plans, reflecting the President’s commitment to the digital asset. He mentioned, “A Bitcoin strategic reserve is something the President’s interested in. He spoke about it all during the campaign trail, and I think you’re going to see it executed on Friday.” In addition to Bitcoin, other crypto tokens are expected to be treated differently but positively under the new policy.
The upcoming White House Crypto Summit, convened by David Sacks and Bo Hines, signals a significant stride towards positioning the U.S. as a global leader in digital finance. The summit is poised to provide a crucial platform for discussions on regulatory clarity, financial innovation, and economic opportunities in the rapidly evolving digital asset sphere. This event follows the Executive Order 14178 signed early in Trump’s administration, affirming the commitment to responsible growth and use of digital assets, which diverges from the previous administration’s stricter approach.
Trump’s aspiration to make the U.S. a hub for cryptocurrencies is likely to attract innovators and investments back to the country. The anticipated announcement on Friday regarding the cryptocurrency policy could be a pivotal moment for the industry, reinstating U.S. dominance in digital assets worldwide. With the crypto summit serving as a milestone in the administration’s pursuit of establishing regulatory frameworks and fostering innovation, the U.S. is poised to lead the way in the digital financial landscape.
