“From this day forward, the United States will adhere to the cardinal rule known by all Bitcoin enthusiasts – never liquidate your Bitcoin,” declared President Donald Trump on March 7, 2025, at the inaugural White House Cryptocurrency Summit. This statement marked a significant shift in the U.S government’s approach to Bitcoin, a well-known digital currency.
The U.S President is now echoing popular Bitcoin mantras concerning the American Bitcoin reserve. This move is extraordinary and demonstrates his understanding that Bitcoin stands apart from other digital entities. This clarity is evident not only in his address at the Cryptocurrency Summit but also in his recent executive order (EO) to establish a Strategic Bitcoin Reserve (SBR), separate from any Digital Asset collection.
The U.S. plans to retain its Bitcoin reserves, a change from previous administrations who sold enormous amounts of it, the President remarked on the SBR. Past administrations have unwisely sold large amounts of Bitcoin, estimated at around 200,000, costing the country billions of dollars, added President Trump.
Furthermore, the President disclosed that his administration would explore options to accrue more Bitcoin, but without burdening the American citizens. The U.S. government intends to grow its Bitcoin reserve in a “budget-neutral” way, meaning it won’t impact taxpayers, he emphasized.
High-profile members from the Bitcoin and crypto industry, including Michael Saylor, Brian Armstrong, and the Winklevoss twins, attended the summit along with Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick.
The summit also saw praises from David Sacks, the White House Crypto Czar, and Kelly Loeffler, the head of the Small Business Administration, for Trump’s speedy progress with Bitcoin and crypto executive orders and legislation. They acknowledged the President’s grasp of Bitcoin and blockchain technology, with Lutnick stating, “We’re using blockchain. We’re using Bitcoin. We’re going to use digital assets to move forward, and Donald Trump is leading the way.”
However, it’s important to note that Bitcoin, despite the enthusiastic endorsement, was not mentioned as a form of currency but as a savings technology. The administration considers stablecoins as the digital assets to be used as money. Secretary Bessent emphasized that the U.S. dollar would remain the dominant reserve currency worldwide, achieved through the use of stablecoins.
Despite the positive atmosphere, some issues were not discussed, such as the rumor of removing the capital gains tax from crypto sales and the security of the private keys to the Bitcoin reserve. However, the general consensus was that the summit marked a significant step forward for the crypto industry.
Brian Armstrong, CEO of Coinbase, summarized the event as a historic moment for the crypto industry. He praised President Trump’s proactive approach and expressed hope for future legislation to strengthen the positive initiatives set in motion for Bitcoin and crypto under the Trump administration.
