Under the guidance of the President’s Working Group on Digital Assets. United States President Donald Trump recently declared that XRP, Solana, and Cardano’s ADA should be included in the crypto strategic reserve.
The president later on added Bitcoin and Ether to the list of cryptocurrencies meant for the reserve.
In a post on social media platform X, he stated that he also loves Bitcoin and Ether and that they would be at the “heart of the reserve”.
Source: Donald J. Trump
At the Bitcoin 2024 conference in Nashville, Tennessee, Trump previously said he would set up a “strategic national Bitcoin stockpile.” Trump informed the audience, during his keynote speech,
“If I got elected, my Administration’s United States of America policy would be to retain 100% of all the Bitcoin the government currently owns or purchases into the future. We will keep one hundred per cent.”
“At least, I hope you do well. This will essentially form the centre of the Strategic National Bitcoin stockpile,” the President said.
After his January 23 executive order guiding the group to create a “digital asset stockpile,” which made Bitcoin maximalists angry. The US President’s language on a Bitcoin strategic stockpile has changed.
Trump signs an executive order, but it’s not what Bitcoin maximalists didn’t expect it.
Signing the executive order guiding the Working Group on Digital Assets, President Donald Trump explored a regulatory framework for stablecoins and the viability of a national crypto reserve.
In addition, The executive order also banned United States central bank digital currency (CBDC) research and development.
When the order came out on January 23, Bitcoin maximalists vented their annoyance with the ambiguous language and the possible inclusion of other digital assets in the reserve.
President Trump signs the order about digital assets and AI. Source: The White House
“Raise your hand if you think Donald Trump should only create the national ‘digital asset’ stockpile Bitcoin only,” Walker, host of THE Bitcoin podcast wrote on X.
Vice president of research at mining company Riot Platforms, Pierre Rochard also called out the executive order’s language, which strayed from what President Trump had promised Bitcoiners before.
On March 7, President Trump will host the first White House crypto summit to address with industry leaders and the Digital Asset Working Group the future of crypto regulatory policy in the United States.
Interestingly, Trump had earlier vocally opposed cryptocurrencies. He claimed Bitcoin is a “scam” back in 2021 to Fox News.
However, recently he and his wife, Melania Trump, started their cryptocurrencies. People have said that they are trying to make money off of the policies he has put in place at the White House.
