President-elect Donald Trump is reportedly exploring the inclusion of US-developed digital currencies like Ripple’s XRP and Solana in his proposed national crypto reserve, the New York Post reported on Jan. 16, citing insider sources.
The move is in line with the pledge he made during his election campaign to create a Bitcoin Reserve, along with other possible crypto-focused policy to strengthen US digital economy.
A Broader Approach
While Trump’s campaign for office prominently featured Bitcoin, recent reports suggest he may also prioritize assets with American origins.
Following meetings between Trump with leaders from Ripple as well as other crypto projects, speculations have grown. Ripple executives including Brad Garlinghouse were at Trump’s Mar-a-Lago home for a recent private dinner.
According to the report, including digital assets like XRP, USDC, and Solana would reflect Trump’s commitment to promoting US innovation and align with his “America-first”This approach focuses on boosting local created products.
However, some insiders caution that such a move could shift attention away from Bitcoin, which was a central focus of Trump’s campaign promises. Critics argue that expanding the reserve to include multiple assets might weaken Bitcoin’s position as the dominant digital currency in US policy.
Trump announced plans during his election campaign to make the US a leader globally in Bitcoin adoption. It included plans to improve Bitcoin mining in the US and create a national strategic reserve that uses top cryptocurrency.
Industry Reaction
Crypto community has been divided over the possibility of US digital currency being given priority.
Advocates of Solana, XRP and other assets see it as a win for American projects. Some are still not convinced.
David Bailey, CEO of Bitcoin Magazine and a prominent player in Trump’s BTC embrace, dismissed the reports as unsubstantiated while saying:
“Fake news. You might as well call Ripple Kamala coin.”
Alexander Grieve of Paradigm’s government affairs team, however, cautioned the public not to believe such claims unless they are confirmed by Trump and his administration.
Grieve is a term that describes a person who has suffered traumatic loss.
“There’ll be many stories the next 4 years re what President Trump does/doesn’t think, things he’s purportedly ‘receptive to’ etc. View such stories with skepticism until it comes from him or his staff.”
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