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Breaking News: Fed Lowers Rates By 25bps: How Bitcoin And Crypto Prices Responded And What's Next
bitcoin

Bitcoin May Receive “Unique Status” In Trump’s Crypto Reserve Plans, Report Says

Ash Tiwari
by Ash Tiwari
6 months ago
·
Posted in Bitcoin News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

According to a report published by The Pavlovic Today on March 5, US President Donald Trump is preparing to announce a major shift in digital asset policies at the first-ever Crypto Summit, set to take place at the White House on Friday.

Bitcoin To Be Treated Differently Than Altcoins

Speaking ahead of the inaugural White House Crypto Summit, US Commerce Secretary Howard Lutnick hinted that Bitcoin (BTC) is likely to receive a “unique status” under Trump’s crypto reserve plans. He stated:

The President definitely thinks that there’s a Bitcoin strategic reserve. Now, there will be the question of, how do we handle the other cryptocurrencies? And I think the model is going to be announced on Friday when we do that.

Related Reading: Mexican Billionaire Reveals 70% Exposure To Bitcoin And Related Investments

Lutnick further emphasized Trump’s strong interest in establishing a Bitcoin strategic reserve. Notably, cryptocurrency regulation was a key component of Trump’s election campaign. During his campaign, he famously purchased hamburgers with BTC at a New York City crypto-themed bar.

Going on, Lutnick reiterated that Trump is “interested in” a Bitcoins strategic reserve. To recall, positive cryptocurrency regulation formed a key tenet of Trump’s election campaign. At the time, Trump famously bought hamburgers with BTC at a New York City crypto-themed bar.

When discussing other cryptocurrencies, Lutnick suggested they would be handled differently from Bitcoin. He elaborated:

So Bitcoin is one thing, and then the other currencies, the other crypto tokens, I think, will be treated differently – positively, but differently. 

In a recent Truth Social post, Trump announced that a Presidential Working Group is developing a Crypto Strategic Reserve that would include altcoins such as Solana (SOL), XRP, and Cardano (ADA). In a separate post, he clarified that the reserve would also hold BTC and Ethereum (ETH).

ADA
Cardano surged from $0.63 to $1.15 following the Crypto Reserve announcement | Source: ADAUSDT on TradingView.com

However, the announcement was not well received by BTC investors. Industry leaders remarked that including altcoins in the Bitcoin reserve is a “miscalculation.”

Details About The White House Crypto Summit

The White House Crypto Summit will be chaired by Trump’s newly appointed Crypto Czar, David Sacks, along with Bo Hines, the Executive Director of the Presidential Working Group on Crypto.

Related Reading: Pakistan Plans New Council for Crypto Regulation: Report

In addition, several high-profile industry leaders will be in attendance, including Strategy’s Michael Saylor, Coinbase CEO Brian Armstrong, Kraken co-CEO Arjun Sethi, and Chainlink co-founder Sergey Nazarov.

Trump’s push for a Crypto Strategic Reserve is already influencing other countries. In Brazil, federal deputy Eros Biondini recently introduced legislation aimed at creating a Strategic Bitcoin Reserve. 

Similar discussions are taking place in Chile, where multiple lawmakers have proposed the establishment of a Bitcoin reserve. Meanwhile, Canada’s potential next Prime Minister, Pierre Poilievre, is rumored to be a Bitcoin advocate who could follow Trump’s lead.

That said, not all nations are on board with the idea. The Swiss National Bank recently dismissed the possibility of incorporating BTC into its reserves. At press time, BTC trades at $89,059, up 7.8% in the past 24 hours.

bitcoin
BTC trades at $89,059 on the daily chart | Source: BTCUSDT on TradingView.com
Featured Image from Unsplash.com, Charts from TradingView.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
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Ash Tiwari

Ash Tiwari

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Ash is a seasoned freelance editor and writer with extensive experience in the blockchain and cryptocurrency industry. Over the course of his career, he has contributed to major publications, playing a key role in shaping informative, timely content related to decentralized finance (DeFi), cryptocurrency trends, and blockchain innovation. His ability to break down complex topics has allowed both seasoned professionals and newcomers to the industry to benefit from his work. Beyond these specific roles, Ash's writing expertise spans a wide array of content, including news updates, long-form analysis, and thought leadership pieces. He has helped multiple platforms maintain high editorial standards, ensuring that articles not only inform but also engage readers through clarity and in-depth research. His work reflects a deep understanding of the rapidly evolving blockchain ecosystem, making him a valuable contributor in a field where staying current is essential. In addition to his writing work, Ash has developed a strong skill set in managing content teams. He has led diverse groups of writers and researchers, overseeing the editorial process from topic selection, approval, editing, to final publication. His leadership ensured that content production was timely, accurate, and aligned with the strategic goals of the platforms he worked with. This has not only strengthened his expertise in content strategy but also honed his project management and team coordination skills. Ash's ability to combine technical expertise with editorial oversight is further bolstered by his knowledge of blockchain analysis tools such as Etherscan, Dune Analytics, and Santiment. These tools have provided him with the data necessary to create well-researched, insightful articles that offer deeper market perspectives. Whether it’s tracking the movement of digital assets or analyzing blockchain transactions, his analytical approach adds value to the content he produces, ensuring readers receive accurate and actionable information. In the realm of content creation, Ash is not limited to just cryptocurrency markets. He has demonstrated versatility in covering other emerging technologies, market trends, and digital transformation across various industries. His in-depth research, coupled with a sharp editorial eye, has made him a sought-after professional in the freelance writing community. From developing editorial calendars to managing content delivery schedules, he has honed a meticulous approach to project management that ensures timely, high-quality work delivery. Throughout his freelance career, Ash has consistently focused on improving audience engagement through well-researched, insightful, and relevant content. His ability to adapt to the evolving needs of clients, whether it's enhancing the visibility of digital platforms or producing thought-provoking pieces for a wide range of audiences, sets him apart as a dynamic force in the field of digital content creation. His contributions have helped to shape a well-rounded portfolio that showcases his versatility, technical expertise, and dedication to elevating the standards of journalism in blockchain and related sectors.

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