According to U.S. Commerce Secretary Howard Lutnick, who took office on February 19, 2025, President Donald Trump is preparing a strategic cryptocurrency reserve proposal, set to be unveiled this Friday. However, the plan will not be solely focused on Bitcoin—instead, it will introduce alternative tokens.

Lutnick emphasized that Trump recognizes the importance of a Bitcoin reserve, but the upcoming White House Summit on Digital Assets, scheduled for March 7, will also address other cryptocurrencies. This historic summit will serve as a platform for Trump to outline his administration's approach to crypto regulation and direct investments in the sector.

Bitcoin will hold a special status within Trump's crypto reserve plan, Lutnick added.

In a recent post on Truth Social, Trump stated that the "American Crypto Reserve" will help revive the industry following what he called "corrupt attacks" by the Biden administration. He also mentioned that XRP, Solana, and Cardano would be included in the reserve. Trump reaffirmed his commitment to making the U.S. the "crypto capital" of the world.

The summit, hosted by David Sacks and Bo Hines, is expected to feature prominent figures in the crypto sector, including Michael Saylor, Brad Garlinghouse, and Sergey Nazarov. Discussions will focus on:

• The future of digital assets in the U.S. financial system,
• The integration of digital currencies into national infrastructure,
• The development of a regulatory framework for cryptocurrencies.

Additionally, in his first week in office, Trump signed Executive Order 14178, aimed at protecting citizens' rights in the use of blockchain technology and digital assets. The order specifically safeguards Americans from risks associated with Central Bank Digital Currencies (CBDCs), which, according to Trump, pose threats to financial stability, personal privacy, and U.S. sovereignty. The order explicitly prohibits the creation, issuance, and use of CBDCs within U.S. jurisdiction.

Following these announcements, Bitcoin's price began to rise, recovering from its recent downturn. However, technical indicators on the daily chart suggest that the oscillators have not yet turned positive, meaning that a confirmed bullish trend has yet to materialize.