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Crypto reserve US (Lutnick): “Bitcoin priority, not altcoins”
By Davide Grammatica
US Secretary of Commerce Howard Lutnick is confident that Bitcoin will be treated differently (compared to altcoins) in the plan to create a crypto reserve
The road to the new strategic crypto reserve in the US
In anticipation of the “Crypto Summit” scheduled for March 7th at the White House, some anticipations are already circulating regarding President Donald Trump‘s plans on the subject of crypto.
Some of these were shared by Howard Lutnick, US Secretary of Commerce, who in a recent interview revealed Trump’s intentions.
“The President is definitely thinking of a strategic reserve of Bitcoin,” Lutnick said. ”But there is the question of how to handle the other cryptos, and I think a model will be announced in the next few days.”
Also according to Lutnick, Bitcoin would enjoy a “unique” status, in line with the majority of the crypto community, which was partly divided when the introduction of assets such as SOL and XRP into the reserve establishment plan was announced.
Waiting for the Crypto Summit
We will presumably find out everything at the meeting on Friday, where there will also be an opportunity for the Trump administration (especially David Sacks and Bo Hines) to meet with some of the key players in the sector, such as Brian Armstrong of Coinbase, Arjun Sethi of Kraken and Michael Saylor of Strategy.
So far, the doubts surrounding this plan have only increased the uncertainties of investors, at least due to the lack of clarity regarding the action plan. For this reason, following an initial market pump upon the announcement, there was a sharp decline throughout the ecosystem, with the altcoin world suffering particularly.
ETH, XRP, SOL and ADA had recorded an initial increase of 10%, 15%, 25%, 30% and 70% respectively, but new statements about duties caused the stock market to correct and, consequently, the crypto market as well.
