President Donald Trump reaffirmed his commitment to supporting cryptocurrency and turning America into a “Bitcoin Superpower” at the first White House Script Summit on March 7th.
Trump has reaffirmed his pledge to reverse restrictive policies and position the United States as a global leader in digital assets. He said his executive order to establish a Bitcoin Reserve and digital assets stockpile is fulfilling the promise he made last year.
He also lamented the fact that the government had sold a significant amount of Bitcoin it once held, saying his administration would ensure that the federal government would never sell BTC again.
He said:
“I know that no one ever sells your bitcoin.”
Trump further said the Treasury Department is working to develop ways to accumulate more Bitcoin without affecting taxpayers.
Trump also compared crypto racing with artificial intelligence, highlighting the need for American leadership.
“It’s important that we stay before this. We should lead just like we’re in AI.”
End the war with code
Trump criticised the Biden administration for running what is known as the “crypto war,” and announced the official end of Operation Chokepoint 2.0, a policy that restricts the financial services of crypto companies.
He denounced regulators and Biden, saying “people are really suffering” under restrictive and harmful policies, and criticising them for simply easing their stance as election season approaches.
He said:
“In the end, they came, but only for the vote.”
Meanwhile, US Treasury Secretary Scott Bescent, who is currently in charge of managing the Bitcoin Reserve, criticizes Biden’s approach to the industry. He said:
“Biden only punished high-tech innovators in the US.”
Bessent added that the Trump administration is retracting from working with the IRS to curb the industry and working with lawmakers to develop a comprehensive regulatory framework for crypto and stability.
He also said the US intends to use stubcoins to ensure that the US dollar maintains its control as a reserve currency of the world.
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