White House ‘Digital Asset Summit’ fails to pump Bitcoin’s price

Bitcoin is down around 7 percent since the start of the year, and even Donald Trump’s official signing of a “strategic crypto reserve” during his White House ‘Digital Asset Summit’couldn’t turn the tide. Although the largest digital currency is still trading at a very high price level between $80,000 and $90,000, investors are clearly getting nervous and are fearful of a crash.

Inflation

On Friday, President Donald Trump hosted the crypto elite at the White House. The guest list included Cameron and Tyler Winklevoss; Michael Saylor, chairman of MicroStrategy and Zach Witkoff, founder of the president’s own crypto venture, World Liberty Financial. Vlad Tenev, the CEO of the highly popular trading platform Robinhood, was also in attendance.

“Never sell your bitcoin. That’s a little phrase they have. I don’t know if that’s right or not. Who the hell knows, right?” -Trump

So that’s how the White House Crypto Summit went. pic.twitter.com/PahJ0C6Hsp

— ₿rett (@brett_eth) March 7, 2025

Still, this small “crypto summit” did little to boost the price of Bitcoin, which, just like the Nasdaq, has fallen in the past three weeks – largely because investors are wary of a possible combination of two things: other major economies announcing tariffs on imports from the United States (in response to Trump’s tariffs) and rising inflation (which had finally started to level off in the past year).

Buffett

More and more big players on Wall Street are following the example of the ‘Omaha Oracle’ Warren Buffett and are taking their money out of risky investments and putting it in a savings account or a term account.

🚨 CRAZY CHART: Buffett’s Stock Sell-Off Hits Record Levels!

Berkshire Hathaway has now sold more stocks than it bought for 9 consecutive quarters, pushing its cash reserves to an all-time high 💰📈

What’s Buffett preparing for? A major crash or the buying opportunity of a… pic.twitter.com/5JfxYtoHOS

— WARANDCOIN (@Warandcoin) March 8, 2025

It seems that only a peace agreement in Ukraine can give the markets a new boost in the short term.

Bitcoin remains trapped in a fairly wide trading band with support at $75,000 and a ceiling at $105,000.