On March 7, 2019, U.S. President Donald Trump hosted the first cryptocurrency industry summit at the White House, bringing together representatives from regulatory agencies such as the Treasury Department and leaders from the cryptocurrency industry to discuss the future development and regulatory direction of cryptocurrencies.

At the summit, President Trump announced that the United States would establish a strategic Bitcoin reserve, with plans for the Treasury Department and the Department of Commerce to accumulate more Bitcoin reserves. He emphasized that the establishment of this reserve would not increase the tax burden on taxpayers, and the government would ensure that it holds Bitcoin without increasing fiscal deficits or debt.

However, the official live broadcast of the summit lasted only about 20 minutes, and no substantive policy documents were released. This situation triggered dissatisfaction among some cryptocurrency investors, who expressed disappointment over the government's failure to provide clearer support. As a result, major cryptocurrency prices fell after the summit, with Bitcoin's price dropping approximately 3% on that day, and it's expected to decline about 7% this week, to $87,000.

Despite this, the White House's hosting of the first cryptocurrency summit and the announcement of the establishment of a strategic Bitcoin reserve marks a shift in the U.S. government's attention and attitude towards the cryptocurrency sector, which may have far-reaching impacts on future regulatory policies and market development.