As Donald Trump prepares for his second term, he may focus on digital assets like Solana and XRP as part of an American strategic reserve.
Trump's Position on Cryptocurrencies
Under the Biden administration, the cryptocurrency industry has faced significant challenges, including increased enforcement by the U.S. Securities and Exchange Commission (SEC). With Trump's return to the White House, many industry leaders hope for a more favorable environment for digital assets. Trump's campaign pledges included creating a 'crypto-friendly' infrastructure, potentially supporting the establishment of a strategic reserve for Solana, XRP, and USD Coin. These efforts were underscored by meetings with major figures in the crypto world, including Ripple CEO Brad Garlinghouse and chief legal officer Stuart Alderoty.
What is the Strategic Reserve?
According to *The New York Post*, the strategic reserve idea may focus on American-based digital currencies like Solana, XRP, and USD Coin. However, the reserve would exclude Bitcoin, the largest cryptocurrency by market capitalization, which could lead to controversy. On one hand, it could support national blockchain innovation and ensure the U.S. maintains a competitive edge in the rapidly evolving digital economy. On the other hand, critics argue that such a move could sideline Bitcoin and delegitimize efforts to promote it as a decentralized global store of value.
Speculation Around Ripple's Involvement
Speculation about an altcoin reserve increased after Trump's meeting with Ripple executives. Sources from *Unchained* suggest that rumors about XRP's potential inclusion in a national reserve may be exaggerated. It's noted that XRP's recent market surge is more closely tied to Ripple's strong connections with Trump's team than to any official policy announcement.
With Trump's second term, significant changes could be introduced to the cryptocurrency market, including the establishment of a strategic reserve, regulatory changes, and efforts to foster the growth of the crypto industry.