Solana, Ripple’s XRP jumps, Donald Trump mulls ‘America First’ crypto-strategic reserve, but experts suggest otherwise

The strategic bitcoin reserve has been a big part of the crypto debate ahead of Donald Trump’s inauguration, but does the incoming 47th president have other signs in mind?

Solana’s SOLRipple’s XRP and that of Gedera HBAR A partly due to Thursday’s surge among altcoins NYPost report Trump has “embraced” the idea of ​​creating “America’s first strategic reserve” of tokens like SOL, XRP and Circle’s. USDC stablecoin.

SOL jumped 8% to $217 after the report, while XRP continued This week’s advance was $3.35, just shy of 2018’s record high. data source CoinGecko. HBAR, the underlying token of the Hedera Hashgraph network founded by a pseudonymous Texas-based firm, was not mentioned in the story, but rose more than 10% to its strongest price since early December.

This led CoinDesk 20 index has surged 5% over the past 24 hours to $100,000, outpacing bitcoin’s 0.5% gain.

Anticipation among crypto investors is building toward Trump’s inauguration next week and the possible announcement of executive orders on the first day targeting the digital asset industry. During the campaign, Trump promised to position the US as a leader in the crypto space, including the creation of a national bitcoin reserve. Senator Cynthia Lummis also introduced BITCOIN Act In July, it offered to buy 5% of its bitcoin supply, and so did some US states intelligence or put forward laws create a reserve for the asset.

Not so fast

Some token holders may be salivating at the idea of ​​the government buying cryptos other than Bitcoin, but market watchers have expressed concern.

“It’s a ridiculous idea and will never happen,” said Quinn Thompson, founder of hedge fund Lekker Capital. X post.

“It’s not the government’s place to make venture capital bets on altcoins,” Thompson explained to CoinDesk. “This rumor about a strategic reserve of other, non-BTC coins is just another example of people taking a bad idea and using it as fact.”

Anthony Georgides, general partner at investment firm Innovating Capital, said that while the promotion of innovation in the US is “very positive”, the potential “nationalization of digital assets” could undermine efforts to decentralize blockchain economies.

“Today, there’s really only one token that’s sufficiently and purely decentralized, and that’s bitcoin,” he said in an interview with CoinDesk’s Markets Daily show. “All of these other projects have key strengths and capabilities that lead to a level of decentralized ethos. Nationalizing digital assets could weaken these efforts over time.”