- Trump announced the creation of the Crypto Strategic Reserve including five cryptocurrencies.
- Coinbase CEO says U.S. crypto reserve with only Bitcoin is “probably the best option”
- Peter Schiff agrees that Bitcoin is digital gold and believes it is better than analog gold.
On March 2, 2025, Trump announced the creation of a “Crypto Strategic Reserve” via a post on Truth Social, including Bitcoin, Ethereum, Solana, XRP, and ADA. On the same day, Brian Armstrong replied to David Sacks’ post that only Bitcoin would be the best option, arguing its simplicity and clear market establishment as a successor to gold. Crypto-critic Peter Schiff agreed with this and even advocated for creating a Bitcoin reserve, stating that altcoin reserves like XRP aren’t great options.
The multiple cryptocurrency reserves, contrasting with Brian and Peter’s Bitcoin-only reserve, have sparked mixed reactions among the crypto community. Critics argue against diversifying with other cryptocurrencies, could cause potential complexity and risk. On the other hand, advocates for a multi-asset reserve say including multiple crypto reserves could reflect the market’s diversity and increase in economic boom.
The market reaction to these events was immediate, with Bitcoin reaching $94,000, up more than 10%, and Ethereum increasing by 10.48% to $2,445. Other cryptocurrencies like XRP, Solana, and Cardano also saw significant value increases, with XRP surging 24.69% and Cardano’s coin soaring up to 59.56%, showcasing broader market enthusiasm.
Trump’s announcement adds up to his executive order on the promise made to make the US the “Crypto Capital of the World”. It also directs his administration to create a “working group” to propose a regulatory framework on digital assets, which aims to elevate a “national digital asset stockpile”
Related: Trump to Host First-Ever Crypto Summit at the White House
The market can also expect a wider adoption of Bitcoin as a reserve asset following the decision of Trump. Many governments are exploring crypto reserves as this shift has gained massive recognition in global finance. However, it is still uncertain whether a multiple cryptocurrency reserve would be a sustainable option or if a Bitcoin-only approach would be more stable for long-term reliability.
