- Trump’s proposal to include Bitcoin, Ethereum, XRP, Solana, and Cardano in a strategic crypto reserve has divided the industry, with Bitcoin maximalists opposing the inclusion of altcoins.
- Prominent crypto leaders like Coinbase’s Brian Armstrong and Bitwise’s Hunter Horsley advocated for a Bitcoin-only approach, while Ripple‘s Brad Garlinghouse supported the multi-coin strategy.
- The announcement triggered significant market rallies, with Bitcoin jumping 11% to $94,000, while altcoins saw even larger gains – Cardano surged 60%, XRP 27%, and Solana 25%.
Donald Trump‘s announcement of a potential U.S. strategic cryptocurrency reserve that would include Bitcoin, Ethereum, XRP, Solana, and Cardano has ignited fierce debate within the crypto community. Revealed via Truth Social on Sunday, the proposal sparked substantial market gains but faced immediate criticism from Bitcoin maximalists who questioned the inclusion of alternative cryptocurrencies alongside Bitcoin.
The plan represents a significant shift in Trump’s stance on digital assets and comes at a pivotal moment for the market, which had been recovering from the $1.4 billion Bybit exchange theft last month. The strategic reserve concept mirrors traditional commodity stockpiles but applies the approach to digital assets.
Industry leaders quickly divided along ideological lines about which cryptocurrencies deserve government backing. Bitwise CEO Hunter Horsley stated he had expected the reserve would contain only Bitcoin, arguing: “Bitcoin is the undisputed store of value for the digital age.”
Coinbase CEO Brian Armstrong echoed this sentiment, suggesting Bitcoin alone would be “the best option” as a “successor to Gold.” Armstrong did propose a market-cap weighted index as an alternative if diversity was deemed necessary, acknowledging that a Bitcoin-only approach “is easiest.”
Armstrong’s position received support from blockchain pioneer Adam Back, while Samson Mow, CEO of JAN3, took a more confrontational stance, commenting: “Even the shitcoin peddlers don’t want a shitcoin reserve.”
Anthony Pompliano, founder of Professional Capital Management, criticized the inclusion of altcoins by comparing them to tech stocks, arguing that they have “very different risk profiles from sound money principled assets like gold and bitcoin.”
Supporters of a multi-coin approach were equally vocal. Brad Garlinghouse, CEO of Ripple, defended the proposal, stating that “maximalism is the enemy of the industry’s progress.” Garlinghouse specifically praised the recognition of a “multichain world” and characterized it as moving beyond what he described as the Biden administration SEC’s “very broken thinking.”
The market response was decisively positive despite the divided expert opinions. Bitcoin’s value increased by 11% to exceed $94,000, while Ethereum rose 10% to over $2,400. Altcoins included in Trump’s proposed reserve experienced even more dramatic gains, according to CoinGecko data:
– Cardano surged 60%
– XRP jumped approximately 27%
– Solana increased 25%
These price movements highlight the significant impact government policy announcements can have on cryptocurrency valuations, particularly when they suggest potential institutional adoption or support.
While the proposal remains conceptual rather than implemented policy, it represents a notable evolution in mainstream political engagement with digital assets beyond Bitcoin alone. The debate continues around which cryptocurrencies have the monetary properties suitable for national strategic reserves versus those better positioned as technology investments or utility tokens.
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