In a groundbreaking move, former U.S. President Donald Trump hosted a first-of-its-kind cryptocurrency summit at the White House, bringing together some of the biggest names in the industry. The event, held on March 7, 2025, focused on Trump’s ambitious plan to create a government-owned reserve of digital assets, primarily Bitcoin.
Crypto Industry Leaders Join Trump at the White House
The summit was attended by key players in the crypto world, including MicroStrategy CEO Michael Saylor, Coinbase CEO Brian Armstrong, the Winklevoss twins, and entrepreneur David Bailey. Also present was Zach Witkoff, co-founder of World Liberty Financial—Trump’s own cryptocurrency venture.
Trump’s executive order, signed just a day before the summit, outlined his vision for a strategic Bitcoin reserve. This initiative aims to utilize Bitcoin obtained through criminal and civil asset forfeitures, without imposing additional costs on taxpayers. “We don’t want any cost to the taxpayers,” Trump emphasized.
How Will the U.S. Build Its Bitcoin Reserve?
According to White House crypto czar David Sacks, the government will not purchase new Bitcoin using taxpayer funds. Instead, the reserve will be funded by assets already in the government’s possession. This approach disappointed some in the market, who were hoping for a more aggressive acquisition strategy. Following the announcement, Bitcoin’s price dipped by 3.4%, dropping to $86,394.
The inclusion of additional cryptocurrencies in the reserve has sparked debate. While Trump has suggested adding four other digital assets, JP Richardson, CEO of Exodus, voiced concerns. “Bitcoin is a proven asset, but including other coins could introduce unnecessary risks,” he said.
A Turning Point for U.S. Crypto Policy?
For years, the crypto industry has faced regulatory uncertainty, with many feeling targeted by government policies. However, Trump’s summit signaled a shift in tone. Some executives praised the administration for fostering open discussions rather than imposing restrictions.
“For the first time, industry leaders feel they’re walking into a collaborative discussion,” said Les Borsai, co-founder of Wave Digital Assets. Others echoed similar sentiments, expressing optimism about a regulatory framework that recognizes crypto as a legitimate asset class.
Trump himself remained enthusiastic, declaring, “We feel like pioneers in a way. From this day on, America will follow the rule that every Bitcoin holder knows—never sell your Bitcoin.” His executive order explicitly states that the U.S. government’s Bitcoin holdings should never be sold.
Implications for the Future of Crypto in the U.S.
Treasury Secretary Scott Bessent assured attendees that the U.S. dollar would remain the world’s reserve currency but hinted at plans to integrate stablecoins into the financial system. Meanwhile, Ripple CEO Brad Garlinghouse welcomed the broader recognition of cryptocurrencies beyond Bitcoin, particularly mentioning XRP as a potential addition to the government’s reserve.
While Trump’s involvement in the crypto sector—particularly his stake in World Liberty Financial—has raised ethical concerns, his aides insist that external ethics lawyers are reviewing his business ventures. The White House has yet to respond to requests for comment.
With this summit, Trump has positioned himself as a key ally of the cryptocurrency industry. Whether his vision for a Bitcoin-backed strategic reserve will succeed remains to be seen, but one thing is clear—the U.S. government is now taking digital assets more seriously than ever before.
