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Industry Leaders Discuss Trump's Addition of XRP, SOL, and ADA to the US Crypto Reserve! Has the Expected Support Arrived?
President of the United States Donald Trump made a surprise national strategic reserve announcement on Sunday.
At this point, Trump announced his plan to establish a reserve including Bitcoin (BTC), Ethereum (ETH) on Sunday, XRP, Solana (SOL), and Cardano (ADA), excluding. Trump claimed that this move would make the US the Crypto Currency Capital of the world.
While this announcement was initially welcomed enthusiastically by the markets, concerns about its results caused the markets to cool off on Monday.
Critics have questioned the addition of altcoins other than Reserved Bitcoin and Ethereum, while industry experts argue that these altcoins lack the developer activity and decentralization features present in BTC and ETH.
Nic Carter, General Partner at Castle Island Ventures, criticized Trump's decision on XRP, ADA, and SOL, saying, "It's not the government's job to run a fake crypto hedge fund. It's not their job to pick winners and losers." *Said.
Ethereum and Solana Make Sense Besides Bitcoin!
SPACE ID top executive Harrison Seletsky expressed support for Trump's diversified crypto reserve plan but pointed out that the elections were wrong. Seletsky said it would be logical to include Ethereum and Solana in the reserve given their strong and growing developer activities.
However, the prominent figure who argues that including reserve XRP and ADA is not logical, stated that XRP and ADA have smaller TVL compared to ETH and SOL.
Two Prime Digital Assets CEO Alexander Blume also criticized the inclusion of XRP, ADA, and SOL reserves, saying that they are technology companies that happen to own cryptocurrencies.
Trump Made His Own Token!
Jean Rausis, co-founder of the DeFi platform SMARDEX, shares the same opinion, stating that Trump's announcement regarding XRP, ADA, SOL was not planned.
Bitcoin Only!
As a result, industry leaders argued that Bitcoin and Ethereum are more sensible for the US national reserve.
Bitwise CEO Hunter Horsely*** argued that it is only right to include Bitcoin:
"I had only imagined that the Strategic Reserve would be Bitcoin. This seems the most reasonable to me. There are values of many crypto assets, but what we are talking about here is not a US investment portfolio, but a reserve. Therefore, Bitcoin is unquestionably the best store of value in the digital age."