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Trump’s Secretary Eyes Bitcoin-Only Strategic Reserve, Says BTC to Be Treated Differently
- President Trump announced the inclusion of digital assets in the US crypto stockpile, causing a stir in the crypto community.
- Some were concerned with the term ‘digital asset stockpile’ being used, as opposed to a Strategic Reserve.
- Some in the crypto community expressed concerns over the inclusion of centralised assets like XRP in the stockpile, preferring a Bitcoin-only reserve.
- Commerce Secretary Howard Lutnick reassured maxis that Bitcoin would be treated differently from other digital assets in the holdings.
- Details around the stockpile will likely be unveiled at the crypto summit in the coming days.
US President Donald Trump made waves earlier in the week when he officially unveiled the digital assets set to be included in the nation’s crypto stockpile.
The world was gearing up for a Strategic Bitcoin Reserve – which was predicated on the US Government committing to a BTC purchase plan.
However, the language used by President Trump was a little different, sending a scare through the crypto community.
He referred to a ‘digital asset stockpile’, which suggested the Government may hold onto assets seized from illicit activities, as opposed to actually buying and investing in cryptocurrencies. The portfolio would include BTC, ETH, SOL, XRP and ADA.
However, the US Commerce Secretary has attempted to allay fears by claiming Bitcoin would be ‘treated differently’ to the rest of the digital assets held in reserve.
Related: Trump’s Crypto Reserve Plan Faces Uncertain Future with Potential Congress Vote
Specific Plans in Place for Bitcoin, Commerce Secretary Says
Speaking with media outlet The Pavlovic Today, Commerce Secretary Howard Lutnick stressed that Bitcoin would likely stand apart from the other digital assets in the US reserve – although the exact model remains unclear.
The President definitely thinks that there’s a Bitcoin strategic reserve…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.
Commerce Secretary Howard Lutnick Lutnick proceeded to point out that Bitcoin will hold a special place in the United States Government’s portfolio.
So Bitcoin is one thing, and then the other currencies, the other crypto tokens, I think, will be treated differently — positively, but differently.
Commerce Secretary Howard Lutnick So now, all eyes are on this week’s crypto summit which is set to reveal Trump and co’s long-term policy shifts and direction for the digital asset industry.
Trump’s Stockpile Concerns Community, Bitcoin Reserve Preferred by Many
Commerce Secretary Howard Lutnick’s comments come at a time when President Trump received a wave of criticism for his comments on the digital asset stockpile.
After campaigning on building a Strategic Bitcoin Reserve – with plans to buy significant sums of BTC – his Truth.social post pointed toward a different direction.
Members of the community demonstrated concern over the inclusion of centralised assets, like XRP, within the stockpile.
Even one of the world’s most prolific crypto haters, Peter Schiff, commented positively on the idea of a BTC Reserve compared to Trump’s proposed plan.
Of course, he couldn’t help by following this up with enough crypto hate and gold shilling to feed an army.
Still, it shows the appetite for a Strategic Bitcoin Reserve is, albeit begrudgingly, there.
Author
Ben Knight
Ben Knight is a writer and editor from Melbourne with a passion for all things music and finance. He enjoys turning complex topics – especially the technical details of cryptocurrency – into digestible bites that anybody can understand. He acquired his Master’s in Writing, Editing and Publishing from RMIT in 2019 and has run his own creative writing business ever since.
