\u201cFrom this day on, America will follow the rule that everyone in Bitcoin knows very well \u2014 never sell your Bitcoin.\u201d<\/em> -President Donald Trump, 3\/7\/25 at inaugural White House Crypto Summit<\/p>\n The President of the United States is now reciting popular Bitcoin maxims as they pertain to America\u2019s bitcoin stack.<\/p>\n Wild.<\/p>\n It\u2019s clear that he\u2019s gotten the message that bitcoin is something altogether different than all other digital assets.<\/p>\n He\u2019s proven this not only by what he said at today\u2019s Crypto Summit, but also by signing an executive order (EO) last night<\/a> that established a Strategic Bitcoin Reserve (SBR) independently of a Digital Asset stockpile.<\/p>\n Regarding the SBR, the President said today that the U.S. plans to hold onto the bitcoin it has in its possession, unlike previous administrations who have sold massive sums of it.\u00a0<\/p>\n \u201cUnfortunately, in recent years, the U.S. government has foolishly sold tens of thousands of bitcoin (200,000, by some estimates<\/a>) that were worth billions and billions of dollars had they not sold them,\u201d said President Trump.<\/p>\n That said, the President also shared that members of his administration will pursue avenues to accumulate bitcoin \u2014 at no expense to the American public.<\/p>\n \u201cThe Treasury and Commerce departments will explore new pathways to accumulate additional bitcoin holdings for the reserve, provided it\u2019s done at no cost to the taxpayers,\u201d he said.<\/p>\n \u201cWe don\u2019t want any cost to the taxpayers,\u201d he reiterated, highlighting the notion that the U.S. government plans to amass bitcoin in a \u201cbudget-neutral\u201d (to borrow language from last night\u2019s EO) manner.<\/p>\n Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick were present at the summit alongside approximately 30 prominent members of the Bitcoin and crypto industry, including Strategy Executive Chairman Michael Saylor, Coinbase CEO Brian Armstrong, Gemini co-founders Cameron and Tyler Winklevoss, and BTC Inc. CEO David Bailey.<\/p>\n Other members of the Trump administration, including head of Small Business Administration Kelly Loeffler and White House Crypto Czar David Sacks, were also in attendance.<\/p>\n Both Sacks and Loeffler praised the pace at which Trump is making progress with Bitcoin and crypto executive orders and legislation.<\/p>\n \u201cYour administration is moving at tech [startup] speed,\u201d said Sacks.<\/p>\n \u201cIt\u2019s actually faster than any startup that I\u2019ve been part of,\u201d added the venture capitalist, well-known for investing in many tech startups over the course of his career.<\/p>\n Secretary Lutnick vouched for President Trump\u2019s newfound Bitcoin and crypto knowledge, adding that the President has truly come to embrace the technology.<\/p>\n \u201cBlockchain and Bitcoin technology are a key part of [the President\u2019s] thinking,\u201d said Lutnick.<\/p>\n \u201cWe\u2019re using blockchain. We\u2019re using Bitcoin. We\u2019re going to use digital assets to [push] forward, and Donald Trump is leading the way,\u201d he added.<\/p>\n Now, before you go and get too excited about Secretary Lutnick talking about \u201cusing\u201d bitcoin, please know that with all the bullish bitcoin talk at the event, not a word of bitcoin being used as money was uttered. Instead, it was solely referred to as a savings technology.<\/p>\n As far as digital assets that the administration views as money, stablecoins stand alone.<\/p>\n And Secretary Bessent reinforced this message, most recently pushed at both the first U.S. Press Conference on Digital Assets<\/a> and the first Subcommittee on Digital Assets hearing<\/a>, at the summit.<\/p>\n \u201cWe are going to put a lot of thought into the stablecoin regime,\u201d said Secretary Bessent. \u201cAnd as President Trump has directed, we are going to keep the U.S. [dollar] the dominant reserve currency in the world, and we will use stablecoins to do that.\u201d<\/p>\n (And before you go cursing Secretary Bessent under your breath as you read this, please note that he also dropped an absolutely banger of a pro-bitcoin one-liner at the event: \u201cPresident Trump is creating assets for the American people while most past presidents have created debt.\u201d)<\/p>\n What is more, on a summit preview call with senior White House officials this morning, one of the officials dispelled the rumor that the administration would remove the capital gains tax from crypto sales<\/a> (which is also applicable when you spend bitcoin or crypto), clearly stating that the administration has no plans to do this and that the topic wouldn\u2019t even be broached at the summit. (It wasn\u2019t.)<\/p>\n Something else that wasn\u2019t discussed at the summit was whether or not the U.S. Marshalls have provided the Trump administration with a proper audit of the bitcoin and other digital assets in their custody (last it was reported, they apparently have little idea of what they\u2019re holding<\/a>). Also unmentioned was how the government plans to secure the private keys to the bitcoin it keeps in the SBR. (I planned to inquire about the latter, but the members of the press present at the event weren\u2019t permitted to ask questions.)<\/p>\n But let\u2019s not get lost in some of the currently minor details here.<\/p>\n Instead, let\u2019s take a queue from Brian Armstrong, and acknowledge that today was, by many standards, a good day.<\/p>\n \u201cIt was a pretty historic moment for the crypto industry,\u201d Armstrong told Bitcoin Magazine after the summit had concluded.\u00a0<\/p>\n \u201cPresident Trump really breathed life back into this industry. A few years ago, it felt like we were under attack, and some folks tried to unlawfully kill the whole industry. What a sea change to be invited into the White House and to have the most pro-crypto president ever,\u201d he added.<\/p>\n Armstrong also noted that, next, he wants to see legislation passed to help make concrete some of the positive Bitcoin and crypto initiatives set in motion under the Trump administration.<\/p>\n \u201cCongress is making really good progress on this with stablecoin and market structure legislation, and hopefully codifying this Strategic Bitcoin Reserve eventually, as well.\u201d<\/p>\n<\/p><\/div>\nThe Strategic Bitcoin Reserve<\/h2>\n
Attendees<\/h2>\n
![\"\"](\"https:\/\/cdn-ilddnad.nitrocdn.com\/XgjmJNBNBbZQEuHAZVzgTqmzytAUTSfp\/assets\/images\/optimized\/rev-e9e27c1\/bitcoinmagazine.com\/wp-content\/uploads\/2025\/03\/White-House-Crypto-Summit-Photo-Frank-Corva-1024x768.jpg\" "\\"White")
Stablecoins As Money, Bitcoin As Store Of Value<\/h2>\n
What Wasn\u2019t Discussed<\/h2>\n
It Was A Good Day<\/h2>\n