US Treasury Secretary Scott Bessent endorsed the idea of bringing Bitcoin into mainstream operations and stated that talks about buying more BTC would occur at the White House Crypto Summit on March 7.
On CNBC Bessent shared his belief that US authorities made a poor decision when they sold BTC earlier. He emphasized that Bitcoin left from seized funds would go into the newly made BTC strategic store after paying financial crime victims.
“I’m a big proponent of the US taking the worldwide lead in crypto. I think we have to bring it onshore and use our best practices and regulations. I think that the Bitcoin Reserve — before you can accumulate it — you have to stop selling it.”
On March 6 Donald Trump signed an executive order to start BTC and digital asset collection operations. By adopting cryptocurrency into its national financial plans the administration makes a major policy update. The head digital asset sector executives will meet at White House for discussions about forthcoming regulations on digital payments.
U.S. Accelerates Bitcoin Adoption
Following the Bitcoin reserve establishment of El Salvador, smaller countries and other countries will accelerate their BTC adoption after the United States joins this approach. Experts believe these actions will lead other countries to form their own BTC holdings to stay competitive in the global market.
Asset manager Anthony Pompliano announced in 2024 that nations worldwide started competing for BTC . He believed the success of BTC in America should begin now before other nations build dominance. He matches other experts who monitor China’s possible Bitcoin purchase strategy. The BTC Magazine leader David Bailey thinks China bought Bitcoin before Trump’s reelection as a strategy to deal with America’s BTC policy change.
The new order makes BTC more acceptable to big institutions which boosts its status as a significant investment asset. The new BTC status highlights its value character similar to traditional precious metals. Even though Bitcoin’s unique design and low supply benefit its investors it faces sharp price swings which makes most investors label it as a high-risk asset.
Through past economic distress BTC has consistently dropped in value when faced with worldwide business conflicts and monetary policy shifts but spikes in inflation. U.S. strategic Bitcoin reservation helps investors and financial institutions trust the asset more for better market acceptance.
The approaching White House Crypto Summit lets industry leaders understand BTC acquisition rules the government plans to introduce. At this conference the United States government will decide how it wants Bitcoin to fit into its financial system of the future.
