President Trump’s recent executive order regarding the establishment of a Strategic Bitcoin Reserve has sent shockwaves through the cryptocurrency market. The order, signed on March 6, exclusively includes Bitcoin in the reserve, leaving out other major cryptocurrencies like XRP, Ethereum, Solana, and Cardano.
The decision to only include Bitcoin in the reserve has disappointed many investors who were hopeful for a more diverse selection of cryptocurrencies. The order confirms that approximately 200,000 BTC owned by the Federal Government will be protected as a strategic asset. David Sacks, a White House official overseeing crypto policy, stated that the U.S. will not sell any Bitcoin deposited into the Reserve and will keep it as a store of value, likening it to ‘digital gold.’
The exclusion of other cryptocurrencies from the main reserve has led to significant market adjustments, with altcoin supporters left wondering about the original plan. The move has also raised questions about the future of altcoins in the Trump crypto reserve landscape.
Despite Trump’s initial announcement on March 2 that included XRP alongside Bitcoin, Ethereum, Solana, and Cardano, the official order has taken a different approach. Altcoins have been relegated to a secondary position in the “United States Digital Asset Stockpile,” offering them less protection.
The Trump crypto reserve strategy has created limitations, with the government stating that it won’t purchase additional XRP or other altcoins for now. Regulators will handle these assets through essential regulatory frameworks, and only cryptocurrencies seized through legal forfeitures will be maintained in the stockpile.
The market initially reacted positively to Trump’s announcement of multiple cryptocurrencies being included in the reserve, with a $300 billion jump in the total crypto market. However, the exclusion of altcoins has led to confusion and uncertainty among investors.
As the 30-day audit requirement for all digital assets approaches, many XRP supporters feel disappointed, as they had hoped the government would acquire XRP through Ripple’s ongoing SEC settlement. The future of altcoins like XRP, Ethereum, Solana, and Cardano in the Trump crypto reserve landscape remains uncertain, with the administration’s policies not favoring these coins at the moment.
It will be interesting to see how this situation unfolds in the coming weeks and how it will impact the broader cryptocurrency market. Stay tuned for updates on any new developments in this evolving story.