Donald Trump Announces Crypto Reserve Plan
United States President Donald Trump recently announced that the President's Working Group on Digital Assets has been instructed to add XRP, Solana, and Cardano to the crypto strategic reserve.
Later, the president updated the list to include Bitcoin and Ethereum, noting that they would be at the “heart of the reserve.”
At the Bitcoin 2024 conference in Nashville, Tennessee, Trump previously pledged to create a “strategic national Bitcoin stockpile.” During his keynote speech, he told the audience:
“it will be the policy of my administration — the United States of America — to keep 100% of all the Bitcoin the government currently holds or acquires into the future. We will keep a hundred percent.”
“I hope you do well, at least. This will serve, in effect, as the core of the strategic national Bitcoin stockpile,” the president continued.
The president’s stance on a Bitcoin strategic stockpile evolved following his January 23 executive order directing the group to establish a "digital asset stockpile,” a move that sparked criticism from Bitcoin maximalists.
President Trump signed the executive order, instructing the Working Group on Digital Assets to assess the feasibility of a national crypto reserve and to develop a regulatory framework for stablecoins.
Additionally, the executive order prohibited research and development of a central bank digital currency (CBDC) in the United States.
After the January 23 order, Bitcoin maximalists expressed their displeasure over the order's ambiguous wording and the possibility of including other digital assets in the reserve.
“Raise your hand if you think Donald Trump should make the national 'digital asset’ stockpile Bitcoin only,” Walker, host of THE Bitcoin podcast wrote on X.
Pierre Rochard, vice president of research at mining company Riot Platforms, also criticized the language of the executive order, noting its deviation from President Trump’s earlier commitments to Bitcoiners.
President Trump is set to host the first White House crypto summit on March 7 to discuss the future of crypto regulatory policy in the United States with industry leaders and the Digital Asset Working Group.
Sources:
https://cointelegraph.com/news/trump-says-digital-asset-stockpile-include-sol-xrp-ada
https://truthsocial.com/@realDonaldTrump/posts/114093946326587357
https://www.youtube.com/watch?v=vPs7axMm1S8&t=286s
https://www.youtube.com/watch?v=vPs7axMm1S8&t=286s
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