President Trump Says US Strategic Crypto Reserve to Include ADA, ETH, XRP, SOL, and BTC - Tokenhell

US President Donald Trump announced on Sunday that he had directed his recently established Crypto Working Group to include Cardano (ADA), Solana (ADA), Bitcoin (BTC), XRP, Bitcoin (BTC), and Ethereum (ETH) in the proposed national crypto reserve.

Trump’s Executive Order

Interestingly, Trump promised Bitcoiners last year during the Bitcoin conference in Tennessee that he would only consider creating a ‘national Bitcoin strategic reserve.’ However, his language on a BTC reserve shifted after he signed an executive order in January to create a ‘digital asset reserve.’

The order also directed the Crypto Working Group to work closely with industry players to formulate a friendly rulebook for stablecoins. Additionally, it banned any plans by the Federal Reserve to develop a Central Bank Digital Currency (CBDC).

Trump’s New Directive Angers Bitcoin Maximalists

Trump’s latest announcement hasn’t sat well with Bitcoin maximalists, who are against the inclusion of other cryptocurrencies in the national reserve. On Monday morning, The Bitcoin Podcast host Walker tweeted that the US President should make a crypto reserve for Bitcoin only, arguing that other mentioned assets are not fully decentralized since they’re controlled by entities.

Furthermore, Riot Platforms’ Vice President of Research Pierre Rochard has called out the directives in Trump’s executive order and wants the US leader to stick to his earlier promises. Similarly, Coinbase CEO Brian Armstrong said on Sunday evening that he preferred a national Bitcoin reserve to one that includes other assets.

Meanwhile, Trump is set to host a crypto summit at the White House on March 7th. He is expected to discuss crypto-related matters with various industry executives. Many also hope the President will explain his decision to expand the proposed crypto reserve to accommodate other digital currencies.

Crypto Markets Today

Following Trump’s announcement, the crypto market has witnessed recovery rallies in the past 24 hours, with BTC leading the way. According to data from CoinGecko, Bitcoin is up 7.4% to $92,260, Ethereum has risen 4.8% to $2,359, XRP has surged 16.6% to 2.64, while Solana and Cardano are up 11.6% and 47.5% to $161 and $0.97, respectively.

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