Donald Trump is making big moves in crypto. His team will now include XRP, Solana, and Cardano’s ADA in the US crypto reserve. Later, he added Bitcoin and Ether, calling them the main part of the reserve.
At the Bitcoin 2024 event in Nashville, Trump promised to build a national Bitcoin stockpile. He said the US would keep all Bitcoin it owns or gets in the future. His words excited Bitcoin supporters, but his latest decision has sparked debate.
On Jan. 23, Trump signed an order asking his team to study a national crypto reserve and set rules for stablecoins. The order also banned any research or development of a central bank digital currency (CBDC).
Bitcoin fans were not happy.
They wanted the reserve to hold only Bitcoin. The order’s wording left room for other cryptocurrencies, which upset them. Some people online questioned why Bitcoin wasn’t the only focus. The host of THE Bitcoin Podcast called for a Bitcoin-only reserve. Others, like a top researcher at Riot Platforms, criticized Trump for changing his stance.
Trump’s new strategy signals shift in US crypto policy
Trump’s new approach has stirred debate in the crypto world. Instead of focusing only on Bitcoin, he is including other digital assets. This shows a shift in how the US may handle crypto.
There’s a big meeting on the schedule. Trump will host the first White House crypto summit on Mar. 7. Crypto regulations will be on the agenda with industry leaders and officials. The meeting could offer more clarity regarding the government’s plans.
Trump’s action is a turning point for US crypto policy. His embrace of a number of digital assets is a new direction. The debate over which cryptos are in the reserve continues. As the summit nears, all eyes are on Washington.
