US president Donald Trump The crypto world was storming on Sunday night In the announcement of a strategic crypto strategic plan that includes XRP, Ada’s Ada and Solana’s Sol – eventually adding bitcoin (BTC) and Ether (ETH) to the mix.
Trump will discuss the idea of a strategic crypto reserve since his 2024 President’s campaign. Shortly after office in January, he signed an executive order directing a working group to assess the formation of a strategic crypto reserve, but the command was not clearly ordered that the US had established a straightforward.
The order said the Digital Assets Working Group should “check the potential creation and maintenance of a national stockpile of digital assets.” Trump said on Sunday that the group should “move forward” with a formal reserve. The Working Group will be hosting a Summit on Friday with the crypto industry and government representatives.
It immediately rode in markets as ADA and XRP shot nearly 60% and Bitcoin overturned a chunk of losses last week with a move above the $ 93,000 level. Businessmen are cautious against increasing market exposure after a sudden move as concrete reserve details ended, with all eyes on the first White House Crypto Summit scheduled for Mar.7.
While entrepreneurs remain focused on prices, here is what the crypto industry leaders say about the long -term implications and impact of possible strategic reserve plans.
Hunter Horsely, CEO of Bitwise
I thought a strategic reserve would just be Bitcoin. That is the most meaning to me.
Many crypto assets have merits, but what we’re talking about here is not a US investment portfolio -we’re talking about a reserve, and Bitcoin is the undeniable value store for the digital age.
Of course, I am grateful that the new administration is building up in space. I look forward to learning more about thinking about it.
Brad Garlinghouse, CEO of Ripple Labs
I have said this before – the crypto industry will achieve our goals (and beyond), if we work together. Crypto president @realdonaldtrump is appreciated by a govt digital asset reserve of the industry.
Maximalism is the enemy of the development of the industry. It is glad to see the potus recognized that we live in a multichein world and that Bill Hinman and I are finally moving and the very ruined thinking of the Biden administration.
I will definitely continue to champion it while in Washington by the end of this week.
Brian Armstrong, CEO of Coinbase
Excited to learn more. Still develops an opinion on providing the asset, but my current thinking is:
1. Only bitcoin can be the best choice – simplest, and clear story alternate with gold.
2. If people want more varieties, you can make a market cap with a weight index of crypto assets to keep it unbiased.
But maybe choice #1 is easiest
Peter Schiff, well -known gold bull and critic of Bitcoin
I get justification for a Bitcoin reserve. I didn’t agree with it, but I got it. We have a gold reserve. Bitcoin is digital gold, which is better than analog gold. So we also create a Bitcoin reserve. But what is the reason for an XRP reserve? Why is hell we need that?
Arthur Hayes, founder of Bitmex and Maelstrom
There is nothing new here. Just words. LMK when they get Congress approved to borrow money and or again the price of gold is higher. Without that they would have no money to buy #bitcoin and #shitcoins.
Tracy Jin, coo of mexc
This step indicates recognition of the value and contribution of cryptocurrencies to the national economy, their role in economic approach, and the growing recognition of the blockchain’s potential to drive a change in global transition to a digital economy.
The US crypto reserves can play an important role in stabilizing volatility, providing legitimacy, and democracy of accessing crypto assets. It can also provide a way for clearer regulatory guidelines, which major players in the industry have long been promoting.
Historically, strategic reserves have significantly driven demand for goods such as crude oil and gold. The interests of the institutional and central banks in gold led to a 26% price increase in 2024, and a similar effect could be seen for crypto assets with strong technological foundations and real-world applications.
