Trump Plans "Unique Status" for Bitcoin in Crypto Reserve Initiative

President Donald Trump plans to give Bitcoin special treatment compared to other cryptocurrencies in a forthcoming crypto reserve initiative. The announcement is expected Friday during the first-ever White House Crypto Summit.

Commerce Secretary Howard Lutnick revealed that Bitcoin will likely receive "unique status" under Trump's cryptocurrency plans. The statement comes as the administration prepares to unveil its comprehensive digital asset strategy.

"The President definitely thinks that there's a Bitcoin strategic reserve," Lutnick said. "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."

Cryptocurrency regulation was a prominent feature of Trump's election campaign. During his presidential run, Trump notably purchased hamburgers using Bitcoin at a New York City crypto-themed establishment.

Lutnick indicated that altcoins would be treated differently from Bitcoin. "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.

Trump recently posted on Truth Social that a Presidential Working Group is developing a Crypto Strategic Reserve. The reserve would include altcoins such as Solana , XRP , and Cardano . He later clarified in a separate post that the reserve would also hold Bitcoin and Ethereum .

The announcement drew criticism from Bitcoin investors. Industry leaders called the inclusion of altcoins in the Bitcoin reserve a "miscalculation."

The White House Crypto Summit will be led by Trump's newly appointed Crypto Czar, David Sacks. Bo Hines, Executive Director of the Presidential Working Group on Crypto, will co-chair the event. Attendees include industry leaders Michael Saylor of Strategy, Coinbase CEO Brian Armstrong, Kraken co-CEO Arjun Sethi, and Chainlink co-founder Sergey Nazarov.

Trump's initiative is influencing policy discussions globally. Brazil's federal deputy Eros Biondini recently introduced legislation to create a Strategic Bitcoin Reserve. Chilean lawmakers have proposed similar measures. In Canada, potential next Prime Minister Pierre Poilievre, reportedly a Bitcoin advocate, may follow Trump's approach.

Not all countries support the concept. The Swiss National Bank recently rejected incorporating Bitcoin into its reserves. Bitcoin traded at $89,481 as of press time, up 8% in 24 hours.

Disclaimer: The information provided in this article is for educational purposes only and should not be considered financial or legal advice. Always conduct your own research or consult a professional when dealing with cryptocurrency assets.