Crypto Summit: Michael Saylor is now coming to the White House
The first-ever crypto summit will take place at the White House this Friday, and plenty of big names from the industry will be in attendance.
The first-ever crypto summit will take place at the White House this Friday, and plenty of big names from the industry will be in attendance. But one name stands head and shoulders above the rest: Michael Saylor, founder of (Micro)Strategy and an outspoken Bitcoin fan, is present.
“I have been invited to the Digital Assets Summit at the White House hosted by the President on Friday,” the ardent Bitcoin supporter wrote dryly in a post on X.
David Sacks, whom Trump considers his “crypto and AI czar,” is expected to lead the meeting. In addition to Saylor, guests include Coinbase CEO Brian Armstrong, Kraken CEO Arjun Sethi and Robinhood CEO Vlad Tenev.
Last Sunday, Donald Trump surprised with the announcement of a national crypto reserve. In addition to Bitcoin and Ethereum, it would also contain the three American cryptocurrencies Solana, XRP and Cardano. The Bitcoin community reacted with shock to the news.
The subsequent brief boom in the crypto market turned out to be short-lived. Already on Tuesday, Bitcoin and other cryptocurrencies fell again, and at the time of writing, Bitcoin's price fluctuates around $90,200.
Even Bitcoin skeptic Peter Schiff questioned the usefulness of a diversified crypto reserve. Michael Saylor, on the other hand, remained noticeably quiet. Does he perhaps know more about the American plans?
Less than two weeks ago, Saylor advised the Trump administration to make the largest Bitcoin purchase ever: “There is only room for one country to buy up 20 percent of the Bitcoin network, and I think that should be – and will be – the United States.”
According to Saylor, the United States could pay off its national debt with the purchase of 4 to 6 million BTC. His not exactly modest condition? Bitcoin's price should then rise to a high seven-figure dollar amount per coin.
