President Trump invited cryptocurrency advocates to the White House Friday for a summit on digital assets, a first-of-its-kind event aimed at highlighting the significant shift in posture that the Trump administration is taking on crypto compared with its predecessors.
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The event came hours after Trump signed an executive order establishing a cryptocurrency strategic reserve, which the White House says will host an estimated 200,000 bitcoin, seized from court proceedings, valued at approximately $17 billion. The order also calls on officials to look for "budget-neutral" ways to buy additional bitcoin.
