President Donald Trump will deliver remarks today at the White House digital assets summit in the State Dining Room, according to a White House news release.
Ahead of the first-ever White House crypto summit, Trump established a Strategic Bitcoin Reserve and a stockpile of other digital assets through an executive order on Thursday.
The Treasury Department will set up an office to administer the reserve, which will be capitalized with Bitcoin (BTC) confiscated by the government as part of criminal or civil asset forfeiture proceedings, according to the order.
“Bitcoin is the original cryptocurrency,” the order said. “Because there is a fixed supply of BTC, there is a strategic advantage to being among the first nations to create a strategic bitcoin reserve.”
The order also created a US Digital Asset Stockpile under the Treasury Department to manage other coins and assets. On Sunday, Trump posted on social media that he would direct the government to stockpile bitcoin, ethereum and three other tokens, which prompted backlash from the crypto industry.
