U.S. President Donald Trump welcomed cryptocurrency industry leaders to the White House on Friday, unveiling plans for a government-owned digital asset stockpile. The summit, held in the State Dining Room, brought together top executives, including MicroStrategy CEO Michael Saylor, Coinbase CEO Brian Armstrong, and investors Cameron and Tyler Winklevoss.
A major focus of the event was Trump’s new executive order to create a strategic bitcoin reserve, funded through assets seized in criminal and civil forfeiture cases. Treasury Secretary Scott Bessent emphasized that taxpayer funds would not be used to acquire digital assets.
“We don’t want any cost to the taxpayers,” Trump stated. White House crypto czar David Sacks described the reserve as long overdue, but some industry leaders expressed disappointment over the lack of plans to purchase additional tokens. Bitcoin prices fell 3.4% following the announcement.
Trump, who has a stake in crypto platform World Liberty Financial, framed the initiative as a historic step. “From this day on, America will follow the rule that every bitcoin knows very well—never sell your bitcoin,” he declared.
The administration’s embrace of crypto marked a shift from past regulatory tensions, with industry leaders praising the newfound collaboration. However, Trump’s personal involvement in the sector has raised conflict-of-interest concerns. The White House has not commented on the matter.
Related Readings:
#Trump #Unveils #U.S #Bitcoin #Reserve #Plan