US To Unveil Bitcoin (BTC) Strategic Reserve This Friday at White House Crypto Summit

Commerce Secretary Howard Lutnick says President Trump is optimistic about Bitcoin strategic reserve. The event is organized by Bo Hines, director of Trump's working group on digital assets and chaired by AI & Crypto Czar David Sacks.

The White House Crypto Summit, scheduled for this Friday, will be a key event for Bitcoin and other cryptocurrencies. A Bitcoin strategic reserve is one of the hot topics on the agenda following recent comments from US Commerce Secretary Howard Lutnick.

In an interview with The Pavlovic Today, Lutnick stated that President Trump will unveil the Bitcoin strategic reserve at the summit. The initiative, which President Trump discussed extensively during his campaign, aims to create a government-led reserve of Bitcoin and other cryptocurrencies.

"A Bitcoin strategic reserve is something the President is interested in. He spoke about it all during the campaign trail, and I think you're going to see it executed on Friday," said Lutnick.

The crypto summit, organized by Bo Hines, director of Trump's working group on digital assets, and chaired by AI & Crypto Czar David Sacks, will focus on establishing robust regulatory frameworks for the crypto industry.

The potential unveiling of the US crypto strategic reserve for digital assets could be a significant moment for the crypto ecosystem.

Lutnick mentioned that Bitcoin will receive preferential treatment in the digital asset reserve, while the model for handling other crypto tokens will be announced on Friday.

"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," added Lutnick.

Earlier, President Trump announced on Truth Social that his Presidential Working Group is working to add ETH, XRP, SOL and ADA to the reserve following his January Executive Order.

The President also stated his personal preference for Bitcoin and Ethereum.

"My Presidential Working Group is working to add ETH, XRP, SOL and ADA to the reserve following my January Executive Order. We covered this in detail in my new book, "The Trump Presidency: A New Beginning." I personally love Bitcoin and Ethereum!," said President Trump.

Bitcoin is currently trading at around $89,000, showing a rise of about 2% in the past 24 hours. This slight increase in price may indicate that traders are positioning for a potential rally on Friday with the crypto summit being a key factor.output: A senior administration official has confirmed that the Biden administration is planning to announce new regulations for the cryptocurrency industry at a crypto summit set to be held this Friday at the White House.

The summit, which is being organized by Bo Hines, director of President Donald Trump's working group on digital assets, and chaired by AI & Crypto Czar David Sacks, will focus on establishing robust regulatory frameworks for the crypto industry in order to foster innovation and protect consumers.

The event, which is titled "The Future of Financial Technology and the Role of Digital Assets in the American Economy," will bring together leading figures from the industry, government officials, and academic experts to engage in a series of panel discussions on pressing issues related to cryptocurrencies, blockchain technology, and Web3.

The topics to be covered at the summit include the comparative advantages of the US financial system in Web3, the role of digital assets in macroeconomic stability, and the intersection of crypto with issues such as climate change and social good.

The crypto summit will take place on Friday, May 5, at 10 am ET in the East Room of the White House.

Those interested in attending the summit virtually can register on the official website to receive a livestream link.

The Biden administration has been actively working on policies for cryptocurrencies, aiming to regulate the industry while still encouraging innovation in Web3 technologies.

Earlier this year, President Biden signed an executive order directing federal agencies to coordinate on policies for cryptocurrencies, including stablecoins, and to study the potential of a US central bank digital currency (CBDC).

The administration is also planning to propose new regulations for stablecoins, which are cryptocurrencies pegged to the value of another asset, such as the US dollar.

The proposed regulations, which are expected to be announced by the Treasury Department and other agencies this spring, would impose capital requirements on banks that hold stablecoins and set standards for anti-money laundering and other regulations.

The administration's goal is to create a comprehensive regulatory framework that would provide clarity for the industry and protect investors.

"We're not going to stand by and let crypto, or any technology for that matter, become so powerful that it threatens our economic or financial stability," a senior administration official told reporters on Thursday.

The administration officials also stated that they are working to create a CBDC that would be "the best, most efficient and innovative" in the world, and that they are open to feedback from industry and the public on the CBDC proposal.

"We want to make sure that we're dotting i's and crossing t's to get this perfect and are integrating the best input from all stakeholders," one official said.

The officials declined to comment on whether any new regulations for crypto would be announced at the crypto summit on Friday.

"I think you'll have to wait and