NARRATIVE: :: Trump pledges to position the U.S.
‘as the global hub for cryptocurrency’
:: March 7, 2025
:: Washington, D.C.
“In the previous year, I committed to transforming America into the bitcoin powerhouse of the globe and the leading hub for cryptocurrencies. We’re taking unprecedented steps to fulfill that commitment, as everyone here can see.” // “I want to extend my strong backing for our legislators in Congress as they work diligently on proposed laws aimed at ensuring regulatory clarity for dollar-pegged stablecoins and the digital asset marketplace. They are putting in tremendous effort.” // “As you are aware, China is advancing aggressively as they typically do. However, we are currently ahead, as we are in AI and various other fields, and we aim to maintain that edge. This is crucial, and it’s a privilege to have such talented individuals gathered here as we strive to remain at the cutting edge.”
On Thursday, Trump enacted an executive order to create a strategic reserve for bitcoin and four additional cryptocurrencies, instructing the Treasury and Commerce secretaries to formulate “budget-neutral strategies” for obtaining more bitcoin without imposing “incremental costs” on taxpayers.
According to White House crypto advisor David Sacks in a social media update, the reserve will consist of bitcoin that the federal government has seized during criminal or civil asset forfeiture processes.
The initiative left some market participants disappointed who were anticipating a definitive strategy for purchasing new tokens.
