United States President Donald Trump welcomed cryptocurrency industry leaders to the White House over the weekend for a first-of-its-kind summit, where he outlined his vision for a government-held stockpile of digital assets.
The event brought together top officials, lawmakers, and industry figures, including MicroStrategy CEO Michael Saylor, Coinbase co-founder Brian Armstrong, investors Cameron and Tyler Winklevoss, and entrepreneur David Bailey. Also in attendance was Zach Witkoff, a founder of Trump’s own crypto venture, World Liberty Financial.
A key focus of the summit was Trump’s newly signed executive order, which formalizes plans to create a U.S. strategic bitcoin reserve. The order directs the Treasury and Commerce Departments to devise “budget-neutral strategies” for acquiring bitcoin without additional taxpayer costs. The reserve will initially be funded with bitcoin seized through criminal and civil asset forfeitures.
“We don’t want any cost to taxpayers,” Trump emphasized. White House crypto adviser David Sacks said the move should have happened long ago and assured that consumer protections are in place.
The plan disappointed some in the market who had hoped for direct government purchases of bitcoin, causing the cryptocurrency’s price to drop 3.4% to $86,394. Some industry leaders also questioned the inclusion of other digital assets in the reserve, citing potential risks.
Despite concerns, many attendees praised the administration’s engagement with the crypto sector after years of regulatory uncertainty. “For the first time, industry leaders feel they’re walking into a collaborative discussion,” said Les Borsai, co-founder of Wave Digital Assets.
Trump signaled strong support for crypto’s future, stating, “From this day on, America will follow the rule every bitcoin holder knows—never sell your bitcoin.”
