Howard Lutnick Confirms Trump Administration Will Unveil Plans for a Strategic Bitcoin Reserve

US Commerce Secretary Howard Lutnick has confirmed that the Trump administration will unveil plans for a strategic Bitcoin reserve at the upcoming White House Crypto Summit

US Commerce Secretary Howard Lutnick has confirmed that the Trump administration will unveil plans for a strategic Bitcoin (BTC) reserve at the upcoming White House Crypto Summit on March 7.

In an interview with The Pavlovic Today, Lutnick clarified that Bitcoin will likely have a special status in the country’s national cryptocurrency reserve, which will also include Ether (ETH), Solana (SOL), Cardano (ADA) and XRP (XRP).

“The president definitely thinks that there’s a Bitcoin strategic reserve,” Secretary Lutnick said. “Now, there will be the question of, how do we handle the other cryptocurrencies. And I think the model is going to be announced on Friday when we do that.”

President Donald Trump has faced criticism since announcing on social media that the country’s crypto reserve would include assets other than Bitcoin.

Even notorious Bitcoin critic Peter Schiff, who refused to invest in the digital asset when it was valued at less than $100, said he understands the rationale behind a BTC-only reserve but not one that includes altcoins.

In response, Lutnick reiterated Trump’s interest in a Bitcoin-only stockpile without dismissing the other assets in the proposed basket.

“So Bitcoin is one thing, and then the other currencies, the other crypto tokens, I think, will be treated differently — positively, but differently,” said Lutnick.

Plans for a US Bitcoin reserve have been subject to speculation since December 2023, when President Trump announced the initiative on X, formerly Twitter.

At the time, he said the US government was creating a "national cryptocurrency" to "become the greatest blockchain and digital asset center in the world."

The president's interest in Bitcoin is well-documented, having previously declared himself "a big fan" of the digital asset and praised its potential on several occasions.

In 2023, he expressed enthusiasm for the technology during a meeting with executives from cryptocurrency exchange Coinbase and expressed optimism about the future of digital currencies in the US.

The White House Crypto Summit is scheduled for March 7, with up to 25 participants confirmed so far. The invite list includes Strategy founder Michael Saylor, Chainlink co-founder Sergey Nazarov and Coinbase CEO Brian Armstrong.

The summit marks a historic pivot by the US government toward digital assets.

The administration is also setting up a Crypto Task Force within the Securities and Exchange Commission (SEC) to chart a "sensible regulatory path" for the crypto sector. The task force has already met with several industry representatives to better understand their regulatory concerns.

Meanwhile, the House Subcommittee on Digital Assets, Financial Technology and Artificial Intelligence has been engaging with industry experts on a range of issues, including stablecoin regulations and which agency should be given spot market authority over crypto.