Howard Lutnick is the Secretary of Commerce. He expects to announce the proposed U.S. cryptocurrency strategic reserve on Friday. Bitcoin The cryptocurrency is set to be unique, whereas other currencies are expected to become mainstream. "treated differently."
Talking to a news outlet Pavlovic TodayLutnick stated that "A Bitcoin strategic reserve is something the President’s interested in," Add that to your list. "He spoke about it all during the campaign trail, and I think you’re going to see it executed on Friday."
U.S. Commerce Department didn’t immediately reply to a Request from Decrypt Please see the following comment.
Lutnick spoke about the other crypto-currencies earmarked to be part of a U.S. Strategic Crypto Reserve, saying that: "Bitcoin is one thing, and then the other currencies, the other crypto tokens, I think, will be treated differently—positively, but differently."
Donald Trump, the U.S. president said in a post on Sunday to his Truth Social page that he would be creating a new agency. "crypto reserve" In a post following up, I added that XRP and Solana are included. "obviously, BTC and ETH, as other valuable cryptocurrencies, will be at the heart of the reserve."
This move is in line with his election promise that he would create a "strategic Bitcoin stockpile," The investment firm Bernstein has criticized the proposal to include altcoins as part of the proposed reserve. "unclear" Coinbase CEO Brian Armstrong has argued for this. "Just Bitcoin would probably be the best option."
The expected announcement of the U.S. strategic crypto reserve on Friday would coincide with the White House's first crypto summit, with confirmed attendees including Armstrong, Kraken CEO Arjun Sethi, Strategy chairman Michael Saylor, Multicoin Capital managing partner Kyle Samani, and Paradigm co-founder Matt Huang.
This first crypto summit, to be led by AI and Crypto Czar David Sacks will replace what President Donald Trump had promised. “crypto council,” Due to disputes within the industry over priorities, many projects have been abandoned.
Stacy Elliott is the editor.