Treasury Secretary Howard Lutnick is dismissing warnings that Trump’s trade policies will drive economic growth, as a Bitcoin chill hits the markets.

A self-styled Wall Street tough guy, Lutnik served as head of brokerage and investment bank Cantor Fitzgerald before being selected by Trump to take charge of everything from imposing trade restrictions to monitoring the weather.

Commerce Secretary Howard Lutnick reveals President Trump will announce a bitcoin strategic reserve at Friday's White House crypto summit.

Bitcoin is set to hold a unique status within the crypto reserve, said Lutnick, while altcoins will be treated "positively, but differently."

These expectations were further reinforced by the recent announcement and ensuing executive order on establishing a "Strategic Bitcoin Reserve and a U.S. Digital Asset Stockpile." However, since the beginning of this year,

Bitcoin rebounds after U.S. Commerce Secretary Howard Lutnick hints at possible tariff relief, while Satoshi-era Bitcoin wallets moves $22 million after 14 years.

Trump's planned US crypto reserve will likely consist mostly of Bitcoin despite initial inclusion of altcoins, with Bitwise predicting it will be larger than expected and held long-term.

Trump's Cabinet members hold diverse portfolios with bitcoin, Big Tech stocks, and index funds.

President Donald Trump said Friday that he’s committed to making the U.S. a world leader in cryptocurrencies as industry leaders heaped praise on him for reversing what they said had been unfair attacks on digital assets by the previous administration.