On Friday, President Donald Trump will host a cryptocurrency summit, illuminating the reversal of fortune the cryptocurrency has witnessed from the days it was hounded by the Biden administration. David Sacks, Trump’s AI and crypto czar, will host the meeting.
“It’s really extraordinary and gratifying to go from being in exile to being in the room where it happens,” Faryar Shirzad, chief policy officer for Coinbase, stated before the meeting.
On Thursday, Trump issued an executive order creating a Strategic Bitcoin Reserve. He wrote, “Bitcoin is the original cryptocurrency. The Bitcoin protocol permanently caps the total supply of bitcoin (BTC) at 21 million coins, and has never been hacked. … Because there is a fixed supply of BTC, there is a strategic advantage to being among the first nations to create a strategic bitcoin reserve. The United States Government…
