The announcement of a strategic reserve of digital assets by the United States has drawn criticism from the Bitcoin community and driven up the prices of XRP, Solana, and Cardano.
On March 2, U.S. President Donald Trump announced the creation of a strategic digital asset reserve that will include Bitcoin, Ether, XRP, Solana, and Cardano. The news was shared in two posts on Truth Social, two hours apart.
The initial announcement stated that the strategic reserve would only include XRP, Solana, and Cardano.
Then, about two hours later, Trump clarified that the reserve would “obviously” also include Bitcoin and Ether, along with other “valuable cryptocurrencies.”
The news had an immediate impact on the market, with the three initially announced cryptocurrencies seeing price increases. XRP rose by 37%, Solana by 23%, and Cardano posted a +68% increase.
However, the decision triggered criticism from the Bitcoin community. Referring to the choice to include altcoins, Samson Mow, CEO of Jan3, stated on X:
In a post on X, Saifedean Ammous, author of The Bitcoin Standard, declared:
Even Brian Armstrong, CEO of Coinbase, expressed skepticism about including alternative cryptocurrencies to Bitcoin, stating on X:
Even Peter Schiff, a well-known Bitcoin critic and gold supporter, spoke out against the U.S. President’s announcement. On X, Schiff commented:
