White House Crypto Czar Confirms US to Establish Reserve With Bitcoin and Other Top Cryptocurrencies

2025-03-02 19:13:32

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White House Crypto Czar David Sacks has endorsed President Donald Trump’s U.S. Crypto Strategic Reserve, highlighting its inclusion of bitcoin and other top cryptocurrencies to position the U.S. as a global leader.

Trump’s US Crypto Strategic Reserve Sparks Industry Buzz

David Sacks, the White House AI and crypto czar, has expressed support for President Donald Trump’s announcement of a U.S. crypto strategic reserve. In a post on social media platform X, Sacks stated:

President Trump has announced a Crypto Strategic Reserve consisting of bitcoin and other top cryptocurrencies. This is consistent with his week-one E.O. 14178. President Trump is keeping his promise to make the U.S. the ‘Crypto Capital of the World.’ More to come at the Summit.

On March 2, President Trump outlined the composition and goals of a proposed U.S. crypto reserve on Truth Social. He claimed the initiative would revitalize the cryptocurrency sector, which he said was harmed under the Biden administration. Trump stated that his executive order on digital assets directed the Presidential Working Group to develop a Crypto Strategic Reserve, including XRP, SOL, and ADA, aiming to position the U.S. as a global leader in crypto. In a follow-up post, he confirmed that BTC and ETH would be central to the reserve, expressing support for bitcoin and ethereum. His statements indicate a push to integrate major cryptocurrencies into national financial policy.

Historically, President Trump’s stance on cryptocurrencies has evolved. Initially skeptical, he has recently adopted a more supportive position, aligning with his promise to establish the U.S. as a hub for cryptocurrency innovation. The issuance of Executive Order 14178 reflects this commitment, directing federal agencies to develop frameworks that support digital asset integration and regulation.

Sacks also announced on Feb. 28 plans for a significant industry event, stating on X: “President Trump will host the first White House Crypto Summit on Friday, March 7. Attendees will include prominent founders, CEOs, and investors from the crypto industry. Look forward to seeing everyone there!” The summit is expected to facilitate dialogue between the administration and key stakeholders, further solidifying the U.S.’s leadership role in the global cryptocurrency landscape.

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