BTC-Only Reserve? Howard Lutnick Says Trump to Clarify at Crypto Summit
Howard Lutnick lifted the lid on the upcoming crypto summit and Donald Trump’s strategic crypto reserve plans. Or should we say Bitcoin strategic reserve?
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Speaking on the matter, Lutnick told The Pavlovic Today that Bitcoin and other cryptocurrencies require different approaches.
The President definitely thinks that there’s a Bitcoin strategic reserve, – he said. – Now, there will be the question of, how do we handle the other cryptocurrencies?
Lutnick suggested that Trump will announce more details on the Bitcoin strategic reserve model during the March 7 Crypto Summit. He emphasized that Trump mentioned the move during his presidential run while adding that other crypto tokens should be treated positively but differently from BTC.
US Strategic Crypto Reserve at the Center of Discussions
On March 2, Donald Trump made waves in the crypto market with an announcement on Truth Social. The US president said that the Presidential Working Group is evaluating a Reserve that includes XRP, ADA, SOL, BTC, and Ether.
This sparked active discussions on whether the reserve should be Bitcoin-only or multi-coin. Peter Schiff even speculated that Trump’s announcement was intended to pump the market.
The prices of cryptocurrencies have seen major ups and downs since Trump’s announcement. In just 24 hours, Bitcoin surged above $90,000, fell as low as $83,000, and then made a recovery.
Lutnick’s suggestion that Trump will announce the Bitcoin reserve on March 7 has generated renewed excitement within the community.
Researcher Pete Rizzo, known on X/Twitter as The Bitcoin Historian (@pete_rizzo), shared the news, stating: “This is massive.”
However, despite the excitement and speculation, nothing is certain about the crypto reserve. Based on Trump’s post, it’s possible that Bitcoin will make up some percentage of the reserve. Lutnick’s words suggest that it could take the largest share if not the entire share.
Aside from the debate over assets, the process of setting up the reserve remains unclear.
Bitcoin's Role in Shaping the Future
While we don’t have all the details on the reserve yet, Trump’s continued focus on Bitcoin shows just how important cryptocurrency is becoming in the global financial scene. As more leaders in politics and finance recognize Bitcoin’s potential, its role as a strategic asset is only going to grow.
Right now, the crypto community is waiting for Trump’s speech at the Crypto Summit, hoping for some much-needed answers about the reserve. As Howard Lutnick said, “Bitcoin adoption is unstoppable,” and this upcoming announcement could be a game-changer in cementing Bitcoin’s place in the world economy.
Related: Senate Appoints Howard Lutnick as Secretary of Commerce
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