Today, the White House will host its first Crypto Summit, a gathering of government officials, regulators, and influential leaders to discuss digital assets.
Ahead of the summit, President Trump signed an executive order to establish the Strategic Bitcoin Reserve.
The order stated: “Bitcoin is the original cryptocurrency. Because there is a fixed supply of BTC, there is a strategic advantage to being among the first nations to create a strategic bitcoin reserve.”
According to the administration’s Crypto Czar, David Sacks, the U.S. government owns an estimated 200,000 bitcoin.
Sacks described the reserve as “like a digital Fort Knox for the cryptocurrency often called ‘digital gold.’”
Sen. Cynthia Lummis stated, “The goal of a strategic reserve is to buy or convert current assets into bitcoin and then hold them … that way, we can remove the short-term volatility from the equation and look at this as a long-term strategic asset.”
Today’s summit will feature Sacks, along with attendees including Mark Uyeda, Acting Chair of the SEC, and Caroline Pham, Acting Chair of the CFTC. Bo Hines, Executive Director of the Presidential Working Group on Digital Assets, will also be present.
By CEO NA Editorial Staff
