BTC’s event-expectation-driven narrative continues in the absence of strong and effective catalysts (e.g. BTC Strategic Reserve). As the White House cryptocurrency summit approaches, any positive headlines could drive short-term momentum, but structural weaknesses in the market and macroeconomic headwinds remain key risks.
A strong pro-cryptocurrency message from Trump could breathe new life into the market, but its sustainability depends on the broader economic and policy environment. In this Matrixport Poll we’ll take a brief look at the likelihood of the BTC Strategic Reserve coming to fruition and the potential impact it could have.
White House Cryptocurrency Summit Impacts U.S. Crypto Policy for the Next Four Years
President Trump has positioned the upcoming White House Cryptocurrency Summit as a key step in making the U.S. the “crypto-asset capital of the world”. Scheduled for Friday, March 7, 2025 in Washington, D.C., the summit is the first in the White House’s history to focus exclusively on cryptocurrencies. This is in line with the Trump administration’s efforts to push a pro-cryptocurrency agenda, reversing the strict regulatory stance of the Biden era.
The White House cryptocurrency summit is critical to Trump’s cryptocurrency agenda and could influence U.S. crypto policy for the next four years. The summit reaffirmed Trump’s commitment to streamlining regulations, banning central bank digital currencies (CBDCs) and establishing the U.S. as a global blockchain leader. However, with the 2026 midterm elections approaching, the window for major legislative reforms may be limited, so the summit could set the stage for a rapid advancement of relevant policies.
Is the U.S. Strategic Cryptocurrency Reserve an “active” or “passive” holder of BTC?
A key focus of the White House crypto summit is expected to be Trump’s proposed U.S. Strategic Cryptocurrency Reserve, which Trump announced via his personal social media outlet, Truth Social, on March 2, 2025, would consist of Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Solana (SOL), and Caldano (ADA), with BTC and ETH forming the “core” of the reserve. will form the “core” of the reserve. Trump’s March 2 announcement sent cryptocurrency prices soaring, with XRP, SOL, and ADA initially rising as much as 60%, while BTC and ETH gained more than 10%. Markets are now closely watching the outcome of the summit and are anticipating that further price volatility could lie ahead.
Trump’s social media posts have sparked speculation about the creation of a BTC strategic reserve, but the difference is crucial.
The legislative process for creating a strategic reserve of cryptocurrencies is long and fraught with variables. At the same time, the President of the United States does not have the authority to directly purchase cryptocurrency assets, and the measure would still need to be approved by Congress and follow the legislative process, and would need to be funded through a debt issuance by the Treasury Department before any substantial action could be taken.
“Reserve” implies active accumulation. January's executive order, on the other hand, focuses on evaluating digital asset reserves, suggesting a more passive strategy - primarily holding $20 billion in seized cryptocurrencies (97.9% of which are BTC) rather than making further purchases.Will the US use its gold reserves to buy BTC?
The U.S. government may use its gold reserves to fund BTC purchases, especially if the Strategic BTC Reserve Program is advanced. The Bitcoin Act, introduced by Senator Cynthia Loomis, proposes to use the market value of gold – currently around $688 billion, well above its book value of $11 billion – to acquire one million BTC over five years. This would likely mean that gold would need to be sold at market price and the proceeds reallocated.
If the U.S. were to sell 15% of its gold reserves, it is expected to raise approximately $110 billion, which at the current BTC price would allow it to purchase approximately 1.05 million BTC. However, due to the large amount of demand for purchases in the marketplace, such a large-scale purchase of BTC would not be able to maintain a stable price, and would inevitably have a significant impact on the market price.
