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• Bitcoin surged back above $90,000, climbing approximately 10% in 24 hours
• Commerce Secretary Howard Lutnick reportedly confirmed Trump will announce a U.S. strategic bitcoin reserve at Friday’s White House crypto summit
• Bitcoin’s wild price swings follow Trump’s social media post about creating a U.S. crypto reserve that would include BTC, ETH, XRP, SOL, and ADA
• The first-ever White House crypto summit will take place Friday with industry executives to discuss regulation
• Markets also responded to potential tariff relief for Canada and Mexico after Lutnick suggested possible concessions

Bitcoin (BITCOMP) prices have seen major movements this week as investors react to news about U.S. President Donald Trump’s crypto plans. The world’s largest cryptocurrency has bounced back above $90,000, rising about 10% in just 24 hours.

The price recovery comes after a week of ups and downs for the crypto market. Many of these price swings were tied to statements from President Trump about his administration’s plans for digital assets.
 

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Bitcoin
BTC Price

Commerce Secretary Howard Lutnick has reportedly confirmed that Trump will announce a U.S. strategic bitcoin reserve during Friday’s upcoming White House crypto summit. This news has helped push the combined crypto market value back over $3 trillion.

BREAKING: US COMMERCE SECRETARY HOWARD LUTNICK SAYS STRATEGIC #BITCOIN RESERVE "WILL BE ANNOUNCED" AT TRUMP WHITE HOUSE SUMMIT

"OTHER TOKENS WILL BE TREATED POSITIVELY BUT DIFFERENTLY."

THIS IS MASSIVE 🚀 pic.twitter.com/zUUMLSrCla

— The Bitcoin Historian (@pete_rizzo_) March 5, 2025

“The President definitely thinks that there’s a bitcoin strategic reserve,” Lutnick told news site The Pavlovic Today. He added that bitcoin would receive a “unique status” under Trump’s plans.

Pete Rizzo, former Coindesk editor-in-chief who describes himself as a “bitcoin historian,” called the news “massive” in a post on X. The market seems to agree with this assessment based on the quick price recovery.

Friday’s summit will be the first White House crypto meeting of its kind. It will bring together important crypto executives, founders, and investors with members of the president’s working group on digital assets.

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