Trump's crypto summit to discuss $93K Bitcoin reserve

President Donald Trump is scheduled to host the first White House Crypto Summit on March 7, bringing together industry leaders and policymakers to discuss the future of cryptocurrency regulation and its role in the U.S. financial system.  

The summit will focus on regulatory policies, stablecoin oversight, and the potential creation of a strategic Bitcoin (CRYPTO:BTC) reserve.  

The White House "AI and crypto czar," David Sacks, announced that attendees would include prominent figures from the crypto industry and members of the President’s Working Group on Digital Assets.  

Sacks, appointed to develop a legal framework for the crypto industry, aims to foster innovation and protect online speech.  

Trump's interest in crypto policy signals a potential shift toward making the U.S. a global hub for blockchain innovation.  

Joe Doll, general counsel for Magic Eden, noted the importance of enacting pro-crypto policies swiftly, given the upcoming 2026 midterm elections.  

The summit's agenda may include discussions on stablecoin regulation, particularly following calls for stablecoin issuers to register with U.S. authorities.  

Sacks has previously suggested that stablecoins could strengthen the dollar's international standing.  

Interest in a U.S.-based strategic Bitcoin reserve is also gaining momentum, with at least 24 states introducing related legislation.  

According to Reuters, Trump has named five cryptocurrencies he wants to see incorporated into a new strategic reserve, aiming to position the United States as "the Crypto Capital of the World."  

These include Bitcoin, Ethereum (CRYPTO:ETH), XRP (CRYPTO:XRP), Solana (CRYPTO:SOL), and Cardano (CRYPTO:ADA).  

Following his announcement, the market values of the mentioned cryptocurrencies experienced a rapid surge.  

Reuters reports that the value of digital currencies rose following Trump's social media post, with XRP trading up around 34%, Solana gaining around 22%, and Cardano rising more than 63%.  

Bitcoin and Ethereum also experienced increases of over 10% and 12%, respectively.

At the time of reporting, the Bitcoin (BTC) price was $93,318.99.