Trump announces US strategic Bitcoin reserve at White House summit

In short: President Donald Trump announced a new US strategic Bitcoin reserve through an Executive Order at the White House Digital Assets Summit on March 7, 2025.

What happened

The White House held a Digital Assets Summit on March 7, 2025, in Washington, DC. President Donald Trump appeared with Treasury Secretary Scott Bessent and David Sacks.

At the event, Trump said the US will create a strategic Bitcoin reserve. He described it as a “virtual Fort Knox for digital gold,” meaning the government plans to hold Bitcoin the way it holds gold bars in a secure place. The reserve would be housed in the US Treasury.

Trump also directed federal agencies to take stock of any cryptocurrency they already hold. The plan is to move any Bitcoin into the new reserve, while other cryptocurrencies would go into a separate “US digital asset stockpile.”

The summit followed an earlier order signed on January 23, 2025, Executive Order 14178, titled “Strengthening American Leadership in Digital Financial Technology.” That order set up a President’s Working Group on Digital Asset Markets, led by the president’s special advisor for AI and crypto, which reports suggested is likely David Sacks. The group was told to deliver a report within 180 days on how to support “responsible” growth of digital assets and blockchain (a shared record system, like a public ledger).

Why it matters

For regular people, these moves could shape how crypto is treated in the US, including rules for products like stablecoins (tokens designed to track the US dollar). Later steps included the GENIUS Act, signed July 18, 2025, to create a federal rulebook for stablecoins, and a late-July report calling for clearer oversight and updates to banking, tax, and anti-money-laundering rules.

Source: The Verge AI