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Trump wants to make US 'crypto capital of the planet,' hosting first ever White House crypto summit
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March 7, 2025
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7:17
17:55Now PlayingDonald Trump is hosting the first White House crypto summit, bringing together founders, policymakers and investors. Experts are expecting to see a move towards pro-crypto policies from the Trump administration.
Ahead of the gathering, the US president signed an executive order establishing a Strategic Bitcoin Reserve and a Digital Asset Stockpile which is like a Fort Knox for cryptocurrencies. It's quite a turn-around for someone who once described cryptocurrencies as a "scam" and said they were "based on thin air.”
Donald Trump used to be a crypto-sceptic. Since then, though, he's undergone a crypto conversion. In an address at the Bitcoin 2024 conference, he declared he was going all-in on digital currencies. He said:
"The US will be the crypto capital of the planet and the bitcoin superpower of the world. And we'll get it done."
So far, the crypto industry has been getting everything it wanted under Trump 2.0. Hostile regulators, who investors say just didn’t get it, have been thrown out. But the biggest problem could be the president himself as the price of bitcoin peaked in January with a pro-crypto president in the White House. But the enthusiasm quickly faded. The currency has suffered its worst trading month in two years as Trump’s economic policies begin to take shape. And that has not gone down well with the bitcoin bros.
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