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Investing.com -- President Donald Trump is set to reveal a significant change in cryptocurrency policy this week, with plans to establish a Bitcoin strategic reserve, according to Commerce Secretary Howard Lutnick. The focus of the strategic reserve will be Bitcoin, while other cryptocurrencies will receive different treatment, website The Pavlovic Today reported.
Commerce Secretary Lutnick hinted at this development in a conversation with Ksenija Pavlovic McAteer of The Pavlovic Today, ahead of the inaugural White House crypto summit scheduled for Friday. Lutnick mentioned that Trump, who has been increasingly supportive of the digital asset industry, will lay out his vision for Bitcoin and broader cryptocurrency regulation.
During the Tuesday evening interview with The Pavlovic Today, Secretary Lutnick confirmed that a Bitcoin strategic reserve is part of Trump’s plan. He also raised the question of how other cryptocurrencies will be handled under this new policy. He indicated that the model for managing these different cryptocurrencies will be unveiled at the Friday summit.
Under Trump’s proposed plan, Bitcoin is set to receive a unique status. Lutnick shared that the President has expressed interest in a Bitcoin strategic reserve, a topic he frequently discussed during his campaign. Lutnick anticipates this plan will be put into action on Friday.
Furthermore, Lutnick noted that other cryptocurrencies, or crypto tokens, will be treated in a positive manner, but differently from Bitcoin under the new policy.
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