1. The White House holds its first cryptocurrency summit, is this a critical turning point for the crypto industry?
On March 7, 2025, the U.S. White House welcomed a historic moment, hosting the first cryptocurrency industry summit. This summit is led by the Trump administration and is held behind closed doors, demonstrating its significance. The meeting is chaired by 'Cryptocurrency Tsar' David Sacks, who is responsible for AI and cryptocurrency affairs at the White House. The lineup of attendees is incredibly luxurious, with leaders from industry giants like Coinbase and MicroStrategy gathering, and members of the presidential digital asset task force are also present.
What was discussed at this summit? Regulation and innovation are definitely the top priorities. First, regarding token classification, the SEC remains adamant about the 'Howey Test' principle, determining that most tokens are securities; however, companies like Coinbase disagree, believing that tokens should be flexibly classified based on their actual use, such as governance and payment functions. Cross-border enforcement is also a major challenge, with the U.S. Department of Justice closely monitoring mixers like Tornado Cash, eager to punish illegal activities, but the decentralized nature of technology makes it very difficult to investigate. Additionally, the fusion of AI and cryptocurrency has become a hot topic, with Worldcoin's iris scanning identity protocol under investigation in multiple countries, and the summit is exploring how to regulate the storage of biometric data on the blockchain.
The market has high expectations for this summit. Standard Chartered Bank analyst Geoff Kendrick boldly predicts that Bitcoin could reach $500,000 during Trump's term, citing a surge in institutional demand and increasing regulatory clarity. However, some are concerned that if the Federal Reserve delays interest rate cuts or the regulatory framework remains vague, the market could fall into a 'policy panic sell-off', and a sharp drop in prices is not to be taken lightly!
2. Trump signs an executive order, the strategic Bitcoin reserve is here.
On March 7, local time, Trump signed an executive order to establish a strategic Bitcoin reserve! David Sacks, the White House cryptocurrency director, revealed on platform X that this reserve fund comes from Bitcoin obtained by the U.S. government through criminal and civil asset forfeiture procedures, and the government will not spend additional money to purchase it.
This order requires a comprehensive investigation of the U.S. government's digital asset holdings, and the Bitcoin deposited in reserves will not be sold off, treated as a long-term store of value. The Secretary of the Treasury and the Secretary of Commerce are also tasked with developing strategies that do not increase the tax burden on taxpayers to acquire more Bitcoin at the right time. As soon as the news broke, the price of Bitcoin instantly fell below $86,000, dropping more than 5% in a day, indicating that the market reacted very strongly!
3. Global cryptocurrency policy reshuffle, countries are taking action.
- South Korea: The chairman of the Korean FSC has stated that they will accelerate the drafting of the second phase of cryptocurrency legislation. South Korea has always been cautious about cryptocurrency regulation, and this acceleration in drafting the legislation indicates that the domestic cryptocurrency market in South Korea is bound to undergo a 'major transformation', with stricter controls on market participants' behavior.
- Japan: Plans to classify cryptocurrency as a new asset class, no longer regulated as securities, and the ruling party has proposed lowering the maximum tax rate on cryptocurrencies to 20%, aligning it with stock investments. This series of actions indicates that Japan is actively exploring more relaxed and favorable policies for cryptocurrency development, which may significantly enhance market activity in the future.
- Hong Kong: Legislator Wu Jiezhuang reminds everyone that Hong Kong does not have an official cryptocurrency, and to be careful not to fall into fraud traps. Cryptocurrency is too popular now, and criminals are taking the opportunity to commit fraud. Wu's reminder is very timely and can help our Hong Kong compatriots protect their wallets and maintain financial order.
4. New trends in the cryptocurrency market and investment, seize the opportunity to make money.
- Brazilian tech company: Brazilian tech firm Méliuz has converted 10% of its cash reserves into Bitcoin and plans to continue increasing its holdings. The fact that traditional companies are so optimistic about Bitcoin indicates that its value is being recognized. As the proportion of Bitcoin in corporate asset allocation increases, the supply-demand relationship of Bitcoin in the financial market is bound to change.
- Bitwise: The Bitcoin and gold hybrid ETP product launched by Bitwise has been listed in Europe. This provides investors with a new option, combining Bitcoin's high growth potential with gold's safe-haven attributes, allowing both aggressive and conservative investors to find suitable investment methods.
- Options market: After analyzing options market data, Deribit executives predict a 33.3% chance that BTC will return to $100,000 by the end of March. Although it's just a prediction, it reflects some market participants' views on BTC price trends, and short-term market trading sentiment is expected to be affected.
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