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Crypto leaders meet at Trump's summit with strategic reserve in focus

By Nandita Bose, Suzanne McGee and Michelle Conlin

March 8, 20256:03 AM GMT+5Updated 8 hours ago

Summary

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March 7 (Reuters) - U.S. President Donald Trump wooed the cryptocurrency industry's elite at the White House on Friday, hosting a first-of-its-kind summit focused on his plans for a government-owned stockpile of digital assets.

Trump welcomed a wide range of industry players including Zach Witkoff, one of the founders of the president's own crypto business, World Liberty Financial, his social media posts showed.

In addition to top administration officials and lawmakers, guests in the White House's State Dining Room included MicroStrategy (MSTR.O), opens new tab CEO Michael Saylor, Coinbase co-founder and CEO Brian Armstrong, investors Cameron and Tyler Winklevoss, and entrepreneur David Bailey.

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A major focus of the event was Trump's goal to build a strategic reserve containing bitcoin, which he formalized in an executive order on Thursday that also said there would be a stockpile of other digital assets.

That order directed the secretaries of Treasury and Commerce to develop "budget-neutral strategies" for acquiring additional bitcoin that have no "incremental costs" on taxpayers.

"We don't want any cost to the taxpayers," Trump said at the summit.