'Never Sell Your Bitcoin. I Don't Know If That's True': Donald Trump's Crypto Summit Leaves More Questions Than Answers

The much-anticipated White House Crypto Summit took place on March 7, with President Donald Trump and top industry executives discussing the future of cryptocurrency and blockchain in the United States. However, the outcome of the event was mixed, as many realized it wasn't all about crypto.

The event was organized by venture capitalist and Trump advisor David Sacks, who hoped it would mark a major shift in the administration's approach to the sector. But instead of in-depth policy discussions, much of the time was spent praising President Trump and figures who have little to do with crypto.

In the opening keynote, it was not a crypto industry figure but FIFA president Gianni Infantino who introduced a new trophy and plans for the FIFA coin. This left many confused as to why soccer was taking up so much of the time at a crypto conference.

Trump then made a controversial statement: “Never sell your Bitcoin,” but he immediately admitted that he was not sure if this was true. This made many feel that his statements were more to please the audience than based on genuine belief in Bitcoin’s potential.

Despite the presence of industry heavyweights like Brian Armstrong of Coinbase and Michael Saylor of MicroStrategy, there was little in the way of public coverage. The executives appeared to be optimistic, but the broader crypto community had mixed reactions, feeling the conference did not provide the transparency and impetus the market needed.

However, the event still marked a new step forward in how the US government could regulate cryptocurrencies under Trump’s leadership.