The cryptocurrency market landscape is on the verge of potentially significant changes as the White House Crypto Summit, scheduled for this Friday, approaches. The event, which has generated a lot of speculation and theories, has taken on a new dimension after statements made by Donald Trump on Sunday, stating that the United States would consider using cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), Ripple (XRP), and Solana (SOL) as strategic reserves.
However, the investor and analyst community remains divided on the implications of these announcements. Trader and analyst @DaanCrypto shared his outlook on X, highlighting the low anticipation for the event. “Expectations for the meeting are pretty low at this point. I would be surprised if they actually came up with some kind of plan to buy coins,” he commented. According to @DaanCrypto, an early rush to buy cryptocurrencies like SOL/XRP/ADA would not be a smart move on the part of the US government. The most optimistic proposal that still seems reasonable, according to the analyst, would be to exclude capital gains tax on cryptocurrency gains. However, such a measure would require congressional approval for its implementation. “This would be great, but it also needs congressional approval to actually be implemented,” explained @DaanCrypto.
The event to watch out for will be the White House Crypto Summit this Friday. “I think expectations for the summit are pretty low at this point. I would be surprised if they would actually come up with some kind of plan to buy coins (if they do, and it’s not just a few hundred…” — Daan Crypto Trades (@DaanCrypto) March 4, 2025.
Given the uncertain scenario, @DaanCrypto advises caution. The market, according to him, has been extremely volatile, with abrupt movements of 10 to 50% in a single day, influenced by headlines. “This makes it difficult to trade,” he said, recommending investors to focus on long-term trading or holding, considering the complicated dynamics and privileged information that seem to influence the market at the moment.
With the summit approaching, the market and investors are eagerly awaiting news that could define new directions for the use and regulation of cryptocurrencies in the United States.