Although the specifics of U.S. President Donald Trump’s crypto reserves proposal have yet to be disclosed; he recently officially identified XRP, Solana (SOL), Cardano (ADA), Bitcoin (BTC), and Ethereum (ETH) as part of a planned U.S. strategic crypto reserve. The announcement drew various reactions from the community.
What is the Strategic Crypto Reserve?
The Strategic Crypto Reserve is a national stockpile of digital assets aimed at strengthening the digital asset sector and reinforcing U.S. leadership in financial innovation. As part of a broader effort to integrate cryptocurrencies into the U.S.A.’s financial infrastructure, the initiative aims to elevate the digital asset sector and support financial stability, hedge against inflation, and strengthen America’s position in the global crypto market .
Market Response
After the announcement
Trump’s announcement of a U.S. strategic crypto reserve led to a sharp but temporary surge in cryptocurrency prices:
- Bitcoin (BTC): Rose 11% to $95,084
- Ethereum (ETH): Jumped 14% to $2,541
- Solana (SOL): Spiked 26% to $180
- Cardano (ADA): Soared 71% to $1.15
- XRP (Ripple): Increased 37% to $3
However, these prices slightly retreated as investors weighed the feasibility of Trump’s proposed crypto reserve.
Due to skepticism:
In an article by Bloomberg, it was highlighted how skepticism over the proposal and concerns about impending U.S. tariffs on Mexico and Canada led the market prices to go back down.
Investors questioned the inclusion of XRP, SOL, and ADA in the reserve, leading to a broad selloff that erased most of Sunday’s gains. Bitcoin dropped nearly 9%, while Ether, XRP, SOL, and ADA saw steeper declines.
Market uncertainty was further fueled by a lack of details on the reserve’s implementation and fears over Trump’s trade policies. Meanwhile, Trump’s ties to key crypto figures, including Ripple’s Brad Garlinghouse and Solana’s memecoin ecosystem, raised concerns about political influence in the reserve’s token selection.
Prices as of March 4, 2025, 1:00 PM (a day after the announcement)
- Bitcoin (BTC): $83,537.23 (Decreased by 10.0% in the last 24 hours)
- Ethereum (ETH): $2,083.34 (Decreased by 14.8% in the last 24 hours)
- Solana (SOL): $136.93 (Decreased by 19.3% in the last 24 hours)
- Cardano (ADA): $0.801(Decreased by 24.7% in the last 24 hours)
- XRP (Ripple): $2.30 (Decreased by 17.6% in the last 24 hours)
Moreover, the crypto market saw $1.07 billion in liquidations as Bitcoin plunged below $87K, reversing gains from Trump’s crypto reserve announcement, with high leverage, stock market weakness, and profit-taking fueling the sell-off.
According to Carlos Tapang, CEO of Rock Stable, citing Anthony “Pomp” Pompliano, crypto projects and lobbyists successfully co-opted President Trump by framing their pitch around an “America First” crypto reserve, convincing him to include tokens perceived as “made in America.” Pomp revealed that insiders who met with Trump confirmed this strategic appeal, which he initially doubted would work, believing Trump’s advisors understood Bitcoin’s geopolitical significance.
However, Tapang also acknowledged that these crypto projects bypassed traditional lobbying and leveraged direct connections with Trump, his family, and administration officials to secure a taxpayer-backed exit liquidity opportunity for their ecosystems.
- Brian Armstrong, CEO, Coinbase
- He supports a Bitcoin-only U.S. crypto reserve, arguing that BTC is the only digital asset comparable to gold as a reserve asset.
- Suggests a market cap-weighted index as an alternative.
- Tyler Winklevoss, Co-Founder:
- Winklevoss also backs a Bitcoin-only approach, acknowledging other cryptocurrencies’ utility but asserting they don’t meet the standard for a national reserve.
- Jason Calacanis, VC, “All-In” podcast
- He dismissed the proposal as a “Trump Pump” and called it an “insane grift” benefiting crypto holders rather than the public.
- Joe Lonsdale, co-founder, Palantir
- While being a Trump supporter, he strongly opposed the plan, calling it “not the proper, principled role of government.”
- He also criticized potential taxpayer funding for crypto investments.
- Molly White, Crypto researcher
- She said the move was more about pumping crypto markets than benefiting Americans.
- Also suggested tax money could be better spent elsewhere.
- Jeff Park, strategist, Bitwise
- He warned that including multiple altcoins was a huge political miscalculation.
What should be included in the crypto reserves?
The local web3 community shared their views on which cryptocurrency should be included in the reserve, as the terms of the U.S. crypto reserve are still being finalized.
The comments feature mixed reactions, with some supporting the inclusion of XRP, Solana, Cardano, and HBAR in a U.S. crypto reserve, others advocating for Bitcoin only, and skeptics questioning the feasibility of a national crypto reserve, while some dismiss Trump’s pro-crypto stance as mere market hype.
In January, after Trump signed an executive order establishing a “national digital asset stockpile” to promote digital assets, BitPinas compiled a list of American cryptocurrencies that could potentially be included in the U.S. national crypto reserve.
- This list includes major cryptocurrencies such as XRP, Solana (SOL), USDC, Cardano (ADA), Chainlink (LINK), Avalanche (AVAX), Hedera (HBAR), Stellar (XLM), Sui (SUI), Polkadot (DOT), Litecoin (LTC), Uniswap (UNI), NEAR Protocol (NEAR), Official Trump (TRUMP), and Aptos (APT).
This article is published on BitPinas: Industry Reacts To Trump’s Inclusion of Non-Bitcoin Tokens to Crypto Reserve Plans
What else is happening in Crypto Philippines and beyond?
