U.S. President Donald Trump is set to announce a “substantial” shift in cryptocurrency policy, including plans to establish a Strategic Bitcoin Reserve (SBR) at a White House summit on March 7. This was revealed by Commerce Secretary Howard Lutnick in an interview with The Pavlovic Today.
According to Lutnick, Bitcoin will receive a “special status” under Trump’s plans, while the approach to other cryptocurrencies will be “positive.”
The crypto summit is expected to be a crucial forum for discussing regulatory clarity, financial innovation, and economic opportunities in the burgeoning digital asset sector, officials stated.
On March 2, Trump announced the potential inclusion of SOL, XRP, and ADA in the SBR alongside Bitcoin.
Following this, on March 4, hourly inflows reached 193 million XRP, according to CryptoQuant analysts. The majority of the funds came from whales conducting transactions of 1 million or more XRP.
Trump’s Crypto Strategic Reserve plan briefly lifted Bitcoin 10%, Ethereum 13%, and XRP 34%.
But traders rushed to sell, flooding exchanges with 6,739 Bitcoin per hour and 300,000 Ethereum inflows.
Prices fell, leaving Bitcoin and Ethereum down 9% and 14%. pic.twitter.com/03Rr9ar4Cq
— CryptoQuant.com (@cryptoquant_com) March 4, 2025
Simultaneously, the volume of incoming Bitcoin transactions surged from 500 BTC to 1000 BTC, peaking at 6739 BTC. Ethereum inflows to exchanges increased to 300,000 coins per hour.
Experts attributed these actions to investors’ intent to sell assets, as large token reserves are typically stored in cold wallets.
The activity spurred a price increase, but the trend proved short-lived. Analysts noted that real demand for cryptocurrencies had been declining for several months and now remains stagnant.
Earlier, on March 3, Euro Pacific Capital President and Bitcoin critic Peter Schiff urged Congress to investigate Trump’s actions, which he called “the biggest crypto scam in history.”