On Friday, US President Donald Trump will host a historical summit of digital currencies at the White House, where he meets with the most prominent industry leaders to discuss the future of digital assets and the role of the United States in this growing sector.
This meeting comes at a sensitive time, as its administration seeks to provide a new organizational environment that enhances investment and innovation in encrypted currencies.
According to Axius, senior investors and executives in the field of digital currencies, including Cameron, Tyler Winkelvos, meet the founders of the “Gimenai” platform, Brain Armstrong, CEO of Queen Bayes, Michael Sailor, President of “Microstage” for Bitcoin investment.
The summit also includes the adviser to the US President for Artificial Intelligence and Crypting Currency David Sachs, along with officials from the US Treasury and Federal Reserve.
“This summit reflects President Trump’s commitment to making the United States a leader in the digital currency sector, which requires close cooperation between the government and the private sector to develop an organizational framework that supports innovation without strangling it with militant laws,” a senior White House official told Aksius.
Strategic reserves of bitcoin
In an unprecedented step, Trump signed, on Thursday, an executive order to create a “strategic reserve of bitcoin”, which includes about 200,000 Bitcoin (equivalent to $ 17.5 billion at the current market prices), which was acquired through previous legal sources.
In this context, David Sachs, head of the presidential work group concerned with digital assets, said in a statement to “Infges”: “This general reserve of bitcoin is very similar to American gold reserves. It is a historical step to enhance the financial stability of the United States and protect digital assets.”
“This summit represents a pivotal moment for the digital assets industry, and the decisions that will be issued will be determined will determine the future of the financial organization in this sector,” she added, “This summit represents a pivotal moment for the digital asset industry, and the decisions that will be issued will be determined will determine the future of the financial organization in this sector,” added Elitsa Tascova, director of products at “Nixo”, told Reuters.
Support after years of restrictions
This summit is a turning point in Trump’s policies towards digital currencies, as he moved from his being a severe critic during his first presidential term to one of its most prominent supporters in his current term. He even supported the “World Liberty Financial” exchange platform, and launched his own electronic currency “Trump Quinn” in January, which sparked widespread controversy over conflicting interests.
In addition to the establishment of the strategic reserves of Bitcoin, Trump Paul Atkins, one of the most prominent supporters of digital currencies, appointed the head of the Organizational Authority for Financial Markets, and ordered the Securities Authority to retract many legal issues that it raised against major companies such as “Queen Bayes” and “Krakin” during the Biden administration.
“The recent Trump procedures provide a more stable environment for the industry, and this makes many investors return to the United States after leaving it due to organizational pressures during the Biden era,” Jacob Phillips, the Lombard Finance Currency Analyster, told Aksius.
Trump is scheduled to deliver a speech during the summit, where he will explain his vision of the role of digital currencies in the American economy, and will also address plans to enhance innovation in the financial technology sector.
According to a White House source who spoke to “Reuters”, the Trump administration is considering granting tax exemptions to companies that invest in blockchain technologies, which may encourage more companies to adopt this technology in its financial operations.
Market expectations
As the summit approached, the prices of bitcoin and digital currencies witnessed a remarkable increase, as Bitcoin jumped by 4.2% to reach 88 thousand and 600 dollars, amid investors optimistic that the new US administration will take supportive measures for this sector.
“If these supportive policies continue, we may see a new wave of institutional investments in digital currencies, which may push bitcoin to new standard levels this year,” said market analyst Nathan Krossby, in an interview with Infissors.
