U.S. President Donald Trump met with leaders in the cryptocurrency industry to discuss establishing a strategic Bitcoin reserve. This initiative was the focal point of the first-ever cryptocurrency summit held on March 7, 2025.
The summit was attended by prominent investors Cameron and Tyler Winklevoss, entrepreneur David Bailey, MicroStrategy CEO Michael Saylor, Coinbase co-founder and CEO Brian Armstrong, and Zach Witkoff, a co-founder of the president’s own cryptocurrency company. Discussions centered on Trump’s vision for a government-owned digital asset stockpile and the broader future of cryptocurrency in the U.S.
On March 6, 2025, Trump took a major step toward fulfilling his campaign promise to make the U.S. the “crypto capital of the world” by issuing an Executive Order establishing the Strategic Bitcoin Reserve and the U.S. Digital Asset Stockpile. The order directs the Secretaries of Treasury and Commerce to develop “budget-neutral strategies” for acquiring additional Bitcoin without imposing “incremental costs” on taxpayers.
“We don’t want any cost to the taxpayers,” Trump emphasized at the summit. He also expressed optimism about the future of the cryptocurrency industry, describing the initiative as a pioneering move.
“From this day on, America will follow the rule that every Bitcoin holder knows very well—never sell your Bitcoin. That’s a little phrase they have. I don’t know if that’s right or not. Who the hell knows, right? But so far, it’s been right, so let’s keep it that way,” he added.
The executive order mandates that the U.S. government’s Bitcoin holdings will not be sold. During the event, Treasury Secretary Scott Bessent reassured attendees that the government remains committed to maintaining the U.S. dollar as the world’s reserve currency while utilizing stablecoins to support this goal.
Industry leaders at the summit welcomed the executive order, viewing it as a significant step toward legitimizing cryptocurrency and fostering a regulatory environment conducive to innovation. They expressed optimism about working with an administration that recognizes crypto as a mainstream asset class and called for a clear and straightforward regulatory framework.
“For the first time, industry leaders feel they’re walking into a collaborative discussion,” said Les Borsai, co-founder of Wave Digital Assets, a crypto investment advisory firm.
However, some experts raised concerns about the regulatory framework for the initiative. Yesha Yadav, associate dean and professor of law at Vanderbilt University, noted, “What everyone really needs at this point is clarity on the level of scrutiny and intensity of regulation, as well as who the key regulators will be.”
In a post on X, Ripple CEO Brad Garlinghouse, who attended the summit, welcomed Trump’s recognition that the cryptocurrency landscape extends beyond Bitcoin. He highlighted that XRP, the cryptocurrency associated with Ripple, is among four other digital assets Trump has suggested may be included in the crypto reserve.
Despite the positive reception, Trump’s personal involvement in cryptocurrency has raised ethical concerns. His family has launched meme coins, and he holds a stake in World Liberty Financial, a crypto platform, leading to potential conflicts of interest. While his aides claim that he has relinquished control of his business interests, the matter remains under review by external ethics lawyers. The White House has not responded to requests for comment.
