The White House will present the US national cryptocurrency reserve: what is important to know
Date: 2025-03-06 Author: Oliver Abernathy Categories: CRYPTO PAYMENTS
Amid Donald Trump's victory in the election, the Bitcoin rate reached a new high, continuing to react with sharp fluctuations to his statements.
On March 2, Trump announced that his digital asset team would accelerate work on the creation of a "strategic cryptocurrency reserve", which will include Bitcoin (BTC), Ethereum (ETH), Solana (SOL), XRP from Ripple and Cardano (ADA). The news caused a short-term increase in the prices of these assets, but the market stabilized within 24 hours. In early March, the crypto market became noticeably more sensitive amid expectations of the final structure of the reserve.
"The US digital asset reserve will strengthen this critical industry after years of attacks from the Biden administration," Trump said in Truth Social, emphasizing that he intends to turn the country into the world's "crypto capital". His son Eric Trump supported the initiative, noting that announcing the reserve on a weekend gave an advantage to retail investors.
Unlike the traditional market, cryptocurrency trading is carried out around the clock. On February 25, during the period of Bitcoin's decline, Eric Trump urged subscribers in X to "buy on dips", replacing the letter "B" in the word Buy with the BTC symbol. The week before the official discussion of the reserve turned out to be extremely volatile: after Bitcoin's growth against the backdrop of Trump's statement, its rate fell by $10,000, but on March 4 it began to grow again, exceeding 10% by the next day. At the time of publication on March 5, Bitcoin is trading at $90,000 with a capitalization of $1.77 trillion, and its historical maximum of $110,000 was recorded on January 20.
On March 7 at 21:30 Moscow time, the Crypto Summit will be held in the White House, where the strategy for creating a crypto reserve will be presented. US Commerce Secretary Howard Lutnick has confirmed Trump's participation in the event. David Sachs, who has been appointed as the "crypto czar," will be one of the moderators. He and Bo Hines, the head of the digital asset working group, will coordinate the discussion.
The summit will feature leading figures from the crypto industry, including Coinbase CEO Brian Armstrong, Kraken co-founder Arjun Sethi, Exodus developer JP Richardson, and Strategy founder Michael Saylor. Many of these companies supported Trump's election campaign and inauguration.
In January, Trump signed an executive order to regulate the crypto market, which included consideration of the creation of a digital reserve. According to the document, a team led by Sachs must develop a federal regulatory framework, including for stablecoins.
Trump has repeatedly stated that the reserve will include bitcoins already in the US. In the summer of 2024, at Bitcoin 2024 in Nashville, he noted that if he wins, the government will stop selling confiscated BTC and make them a “national treasure.”
According to Arkham, the United States controls 198,109 BTC (approximately $17.7 billion), which were confiscated from hackers, fraudsters, and illegal marketplaces. Latnik clarified that bitcoin will be considered separately from other crypto assets in the reserve structure.
“The president is convinced that there should be a strategic reserve of bitcoin,” Latnik said in an interview with The Pavlovic Today. Other assets will have a different status. However, the inclusion of altcoins has drawn criticism: Coinbase CEO Brian Armstrong said that the best solution would be to limit it to bitcoin.
Some experts have expressed concerns about possible cases of insider trading. Bitwise CEO Jeff Park noted that adding altcoins that do not yet have strategic significance could create suspicions of manipulation, even if there is none.
There are also alternative crypto reserve projects, including a bill by Senator Cynthia Lummis. She proposed the Bitcoin Act, according to which the US Federal Reserve would have to purchase up to 200,000 BTC annually, accumulating 1 million bitcoins by 2030. In her opinion, this will significantly reduce the national debt.
However, the bill has not yet been promoted, and Trump has not commented on it in any way. Lummis suggested that it should first be tested at the state level.
