The administration of Donald Trump has officially unveiled a strategy for creating a national U.S. cryptocurrency reserve, placing a major bet on Bitcoin and several other digital assets. The announcement came after BTC reached a new all-time high following Trump’s presidential victory and his continued public support of crypto.
On Sunday, March 2, Trump stated that his crypto task force must move forward with the creation of a “strategic reserve of digital assets,” which would include Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Ripple’s XRP, and Cardano (ADA). The announcement triggered a sharp but brief rally across these assets, with prices returning to previous levels within a day.
Trump claimed the crypto reserve would “strengthen this critically important sector,” which he said had suffered “years of corrupt attacks by the Biden administration.” Posting on his Truth Social platform, Trump vowed to make the U.S. the “crypto capital of the world.” His son, Eric Trump, praised the timing of the announcement as “brilliant.”
“I admire the brilliance of announcing a strategic reserve on a Sunday, when traditional markets are closed, and Wall Street is asleep. For once, retail investors win,” Eric wrote on X.
The week leading up to the White House summit proved particularly volatile for the crypto market. After Bitcoin surged by $10,000 following Trump’s comments, it dropped just as sharply the next day. By March 4, the asset began climbing again and had gained over 10% by the opening of U.S. markets on March 5.
Crypto Summit at the White House
The crypto summit where the strategy was unveiled took place at the White House on the evening of March 7. U.S. Secretary of Commerce Howard Lutnick confirmed that Trump personally presented the plan. The event was chaired by David Sacks, appointed by Trump as “czar” for AI and crypto, along with Bo Hines, director of Trump’s Digital Assets Task Force.
The summit gathered major figures in the crypto industry, including Coinbase CEO Brian Armstrong, Kraken co-founder Arjun Sethi, Chainlink co-founder Sergey Nazarov, Exodus Wallet CEO JP Richardson, Paradigm’s Matt Huang, and Michael Saylor, founder of Strategy (formerly MicroStrategy), whose company remains the largest corporate Bitcoin holder.
Many of the event participants were also donors to Trump’s campaign and inauguration. Trump has reportedly met personally with the leadership teams behind the cryptocurrencies chosen for the reserve.
What’s in the U.S. Crypto Reserve
Back in January, Trump signed an executive order initiating the development of a regulatory framework for digital assets and the creation of a crypto reserve. The directive, titled “Strengthening American Leadership in Digital Financial Technology,” laid the groundwork for the new initiative, including regulations for stablecoins.
According to Secretary Lutnick, Bitcoin will be treated separately from other assets. “The president believes there should be a strategic reserve of Bitcoin,” he said. Other cryptocurrencies, he noted, will be viewed positively but “differently.”
The decision to include assets beyond Bitcoin sparked criticism. Even Brian Armstrong, who stands to benefit from Trump’s pro-crypto stance, argued that “Bitcoin alone would probably be the best option.” Experts raised concerns over potential insider trading risks when including newer, less-established altcoins in a government reserve.
As of early March, the U.S. government held 198,109 BTC — approximately $17.7 billion — according to blockchain analytics platform Arkham. These funds were seized in various criminal investigations involving hackers, fraud schemes, and darknet marketplaces. Trump had previously stated that these confiscated Bitcoins should be preserved as “national treasure” and not sold off by the government.
Other Initiatives
While the Trump administration has now presented its own strategy, a separate bill known as the Bitcoin Act, proposed by Senator Cynthia Lummis, remains under consideration in the Senate. The proposal calls for the Federal Reserve to purchase up to 200,000 BTC annually over five years to build a 1-million-Bitcoin reserve. Lummis claims the move could help cut the national debt in half by 2045.
Trump, however, has never publicly commented on the bill. According to Lummis, it may first need to be piloted at the state level before moving forward on a national scale.