In a stunning development that has sent shockwaves through the cryptocurrency market, former US President Donald Trump announced plans to include major altcoins in the government’s crypto strategic reserve. This dramatic shift from the initial Bitcoin-only approach has triggered intense debate among industry leaders and a 10% surge in the broader crypto market.
Major Altcoins Make the Cut
The expanded reserve will now include:
- Ethereum (ETH)
- XRP
- Solana (SOL)
- Cardano (ADA)
This announcement comes at a critical time, with Bitcoin recently testing support below $79,000. The recent market volatility and ETF outflows have created uncertainty, making this policy shift particularly significant.
Industry Leaders Split on Implementation
The crypto community’s response has been notably divided:
- Supportive Camp: Changpeng Zhao, former Binance CEO, called it “a fantastic start” and predicted more countries would follow suit.
- Skeptical Voice: BitMEX’s Arthur Hayes dismissed it as “just words,” emphasizing the need for congressional approval.
- Middle Ground: Coinbase’s Brian Armstrong suggested a market cap weighted index approach could be more practical.
Market Impact and Future Implications
The immediate market response has been positive, with particularly strong gains in Cardano. Key implications include:
- Enhanced institutional legitimacy for major altcoins
- Potential for broader market adoption
- Increased pressure on regulatory frameworks
Looking Ahead
While the immediate focus remains on major altcoins, the potential inclusion of meme coins and crypto indexes in future reserve expansions cannot be ruled out. The market will be watching closely as implementation details emerge and congressional discussions begin.