Venture Capitalist Nic Carter Comments on Trump’s Crypto Summit

Venture capitalist Nic Carter recently expressed support for former President Trump’s executive order from March 7, which aims to establish a Strategic Bitcoin Reserve.

Carter praised the announcement, calling it “couldn’t have gone better.” Known for his investigative work exposing the Biden administration’s tactics against the crypto industry, he highlighted several positive aspects from the White House Crypto Summit held on the same day.

According to Carter, it was wise for the Trump administration to differentiate the Strategic Bitcoin Reserve from altcoin holdings rather than treating them similarly. He speculated that decisions regarding altcoin purchases would be left to Congress, emphasizing that Bitcoin receives the official endorsement of the U.S. government, while no other cryptocurrencies do.

Despite the optimism surrounding the announcement, Bitcoin’s price fell almost 4% in the 24 hours following the news, dropping to under $89,000.

A price chart from March 7 shows Bitcoin trading at $88,362.

Carter also pointed out that the Bitcoin reserve will consist of BTC seized through criminal or civil asset forfeitures, and highlighted that using these funds would prevent taxpayer backlash against the reserve.

In a humorous twist, he suggested that if Bitcoin’s creator, Satoshi Nakamoto, were identified as an NSA member with a significant stash of BTC, Trump’s executive order would secure those funds from being sold.

Following the summit, David Sacks announced that Trump signed the executive order, revealing that the U.S. government holds around 200,000 BTC in seized assets, although a complete audit has yet to be performed.

Related Links

• White House Crypto Summit 2025: Everything Important You Need to Know
• Trump Signs Executive Order Establishing a U.S. Strategic Bitcoin Reserve