U.S. Commerce Secretary: Trump will "announce Bitcoin reserves" at the White House Crypto Summit BTC hits $91,000
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The US Commerce Secretary: Trump will announce a Bitcoin strategic reserve at the White House crypto summit
broke through $90,000
Trump calls for advancing the Altcoin strategic reserve
The White House announced last week that President Trump will hold his first-ever summit at the White House on March 7th, with as the host and various industry figures and members of the President's Digital Asset Working Group in attendance.
According to a report from , US Commerce Secretary Howard Lutnick revealed that Trump is expected to announce major changes to policy this week, including a plan to establish a Bitcoin strategic reserve:
"President Trump is definitely embracing a Bitcoin strategic reserve. The question now is, how do we deal with the other ? I think on Friday (the White House summit) the President will formally unveil the relevant model.
The Bitcoin strategic reserve is something the President is interested in, he has mentioned it more than once during the campaign, and I think we will see it on Friday."
Buoyed by this news, surged to a high of $91,052 this morning.
However, it's worth noting that the Trump administration has not yet made an official response to this matter, and it remains to be seen whether Trump will actually announce a Bitcoin strategic reserve plan this week.
Prior to the White House summit, Trump also stated last Sunday that he has instructed the presidential working group to advance a strategic reserve for including , , , which has sparked market discussion and a surge in related tokens.
However, CIO Matt Hougan recently pointed out in a report that including these in the strategic reserve does not seem to be a strategic choice, but rather a consideration of politics. He warned investors not to get too excited.
Nonetheless, Matt Hougan expects Trump to ultimately unveil some form of reserve plan, and a pure reserve would be the best choice.
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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