President Donald Trump is set to announce a significant shift in cryptocurrency policy this week, including plans for a Bitcoin Strategic Reserve, according to U.S. Commerce Secretary Howard Lutnick as cited Wu Blockchain. With this news, the price of the Bitcoin token surpassed $90,000 mark.
Lutnick Reveals Bitcoin Reserve Strategy Plans
U.S. Commerce Secretary Howard Lutnick was speaking to Ksenija Pavlovic McAteer of The Pavlovic Today about the first-ever White House Crypto Summit which is to be held this Friday, March 7, 2025. During this interview, the Secretary revealed that the Trump administration is planning to establish a Bitcoin Strategy Reserve.
“The President Trump definitely thinks that there’s a Bitcoin strategic reserve,” Lutnick stated, adding that Bitcoin will be getting a unique treatment compared to the other cryptocurrencies. “So Bitcoin is one thing, and then the other currencies, the other crypto tokens, I think, will be treated differently—positively, but differently.” he explained.
This summit, which is to be held on March 7, 2025, is huge because this move is a step forward in positioning the United States as a global leader in digital finance.
The summit is said to be chaired by White House AI and Crypto Czar David Sacks and managed by Bo Hines, executive director of the new Crypto Council. Prominent cryptocurrency founders, leaders such as Michael Saylor (Founder of Strategy) and CEO’s such as Brad Garlinghouse (CEO of Ripple) and investors are expected to attend this event.
Bitcoin Surges to $90,000 mark
As soon as this news broke out, at around 16:10 GMT + 5:30 the price of the token surged to $90,364.24, but experienced a dip shortly after. At press time, the price of the token stands at $89,698.03 with a surge of 6.7% in the last 24 hours.
This $90,000 mark is being considered as a resistant level by various analysts. Once a official statement is released by the President Trump during the summit, the prices of the token are expected to rise above this resistance level.
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