Hello to everyone at the Blockworks Digital Asset Summit. It's an honor to speak with you about how the United States is going to dominate crypto and the next generation of financial technologies. And it's not going to be easy, but we're way ahead. Just two weeks ago, we hosted the first ever White House Digital Asset Summit, bringing together many of the world's top leaders in crypto for a conversation led by our White House AI and crypto czar, David Sacks, who's a fantastic and very brilliant guy.
That same week, I signed an order creating the brand new strategic bitcoin reserve and a US digital asset stockpile, which will allow the federal government to maximize the value of its holdings instead of foolishly selling them for a fraction of their long-term value, which is exactly what Biden did. He got a fraction of their value.
We're ending the last administration's regulatory war on crypto and bitcoin, and that includes stopping the lawless operation, Choke Point 2.0. Operation Choke Point went beyond regulation, and I mean far beyond. It was a form of lawfare through government weaponization. Frankly, it was a disgrace. But as of January 20th, 2025, all of that is over.
I've also called on Congress to pass landmark legislation creating simple common sense rules for stablecoins and market structure. With the right legal framework, institutions, large and small, will be liberated to invest, innovate, and take part in one of the most exciting technological revolutions in modern history.
It's so big, it's I think as big as you can get. Pioneers like you will be able to improve our banking and payment system and promote greater privacy, safety, security, and wealth for American consumers and businesses alike. You will unleash an explosion of economic growth. And with the dollar-backed stablecoins, you'll help expand the dominance of the US dollar.
And many, many years to come, it'll be at the top, and that's where we want to keep it. We only want to keep it at the top always. I can already see that the energy and passion of the crypto community is the kind of spirit that built our country. And it is exciting to watch as you invent the future of finance.
And right here, it's going to be right here in the USA, the good old USA. Together, we will make America the undisputed bitcoin superpower and the crypto capital of the world. Thank you. Good luck. God bless America.