At the Bitcoin Conference in Nashville in July, Donald Trump promised to create a “Strategic national bitcoin reserve.”
By Sunday morning March 2, that reserve also included Ether (Ether), XRP, Solana (Sol) and Cardano (ADA) next to Bitcoin (BTC).
Trump’s Message in fact social His working team said the president is moving forward in creating a larger scope crypto reserve, ignoring a Torrent of feedback from the entire crypto community.
Many complaining that is the reserve Not only glued to bitcoin. Others asked if the US should Stockpiling tokens such as XRP and Cardano. Others wondered what might have changed in Trump’s mind.
Trump said he wanted to make the US “Crypto Capital of the World” and his timing seemed to be aimed at retail businessmen. “I liked the genius announcing a strategic reserve a week, when traditional markets were closed and Wall Street was sleeping. For the first time, investors won retail,” Trump’s son Eric Trump tweeted, Sunday night.
Prices of properties -rose up almost immediately, along with Someone benefits In particular. However, many we do not know about the “crypto strategic reserve.”
Trump’s Sunday morning message was the first time the administration said there were five portfolio owners. Furthermore, the details are not good. Here are some big questions.
1. Is he serious?
The US owns more than 200,000 BTCs it claims through seizures. Experts say this may be the basis for a national reserve without the approval of Congress. But a multi-coin reserve will surely require Congress to pass the law.
Wyoming Senator Cynthia Lummis has suggested the law that the US will see $ 20 billion in the first year, and 20,000 more BTCs at each of the following four years to take the US stockpile to one million BTC. Lummis’s views are unknown today expanded multi-coin reserve. He plans to meet with industry leaders to discuss The thing on March 11. Does he now suggest different laws?
Other, the subsidiary question is how the US can pay for the expanded portfolio. Crypto is publicly exchanged and has a public price. It is unclear from Trump’s message if his administration is looking for a new spend. Can the US sell gold to buy crypto? We don’t know.
2. Why include Solana, XRP and Cardano? Will there be someone else?
As many in X have noticed, there are logical reasons to include Bitcoin in a strategic reserve. “We’re talking about a reserve, and Bitcoin is the undeniable value store for the digital age,” said Hunter Horsely, the CEO of Bitwise. Bitcoin is “digital gold” and BTC’s “dominance” is still north of 60%. BTC is the first asset to hold holder.
It is more difficult to make a straightforward case for other coins. For example, Cardano, with a dominance of 1.1%, is known as an environment to produce decentralized applications (DAPPS). It has no ETFs like Bitcoin and Ether and the tradfi has not accepted almost the same.
The five coins are selected for two different factors. BTC and ETH are completely decentralized. Solana, XRP and Cardano are made in America, and Trump may include them to advance the US crypto industry. Trump’s announcement seems to leave an open possibility that the reserve may include other coins in the future.
3. Will the states follow the suit?
CoinDesk’s Jesse Hamilton has recently wrote that up to 22 State is considered the creation of their own crypto reservesMost of Bitcoin. Will they now consider a broader set of owners?
4. Will crypto support it?
The reaction to Trump’s announcement throughout the professional crypto is tepid-to-critical. Trump announced the reserve to Nashville aimed at please his audience. But now it’s not clear that the crypto industry is 100% behind its plan to bring the reserve. If the proposal gets a pushback to Congress, the administration will need industry support, to be a concern for its supporters. Surely, certainly, Polymaket bettors are skeptical that the reserve will come soon.
