Trump Explores Five Cryptocurrencies for a New National Strategic Reserve

March 3, 2025 TruthUSA

Further information regarding the reserve is anticipated to be disclosed at the White House’s Crypto Summit on March 7.

President Donald Trump has unveiled a strategy for the creation of the United States’ inaugural Strategic Cryptocurrency Reserve (SCR), causing prices of all five digital assets he mentioned to soar.

“I will ensure that the U.S. becomes the Crypto Capital of the World,” Trump announced on Truth Social on Sunday, attributing his January executive order on digital assets as the groundwork for the new reserve.

He indicated that the SCR would encompass widely recognized cryptocurrencies such as Bitcoin and Ethereum, in addition to lesser-known coins like XRP, Solana’s SOL, and Cardano’s ADA.

The market reacted quickly to the news. Bitcoin surged by 10 percent, exceeding $94,300, recovering from a three-month low of under $80,000 just two days earlier. By midday Monday, Bitcoin had eased back but stayed above $90,000, alongside upward trends for the other four cryptocurrencies before they faced slight corrections.

Eric Trump, the president’s son, lauded the timing of the announcement, labeling it “brilliant” for being made on a Sunday, when traditional markets were closed. “For the first time, retail investors win,” he commented on the social media platform X.

The announcement received mixed feedback from both financial and cryptocurrency sectors. Some experts argued that the reserve should solely consist of Bitcoin due to its established status as a digital asset. Others expressed concern that government ownership of cryptocurrencies could result in undue market influence and excessive regulation.

“Limiting the reserve to just Bitcoin would likely be the best strategy—clear and straightforward as it follows gold’s success,” Brian Armstrong, the billionaire co-founder of Coinbase, the largest exchange in the United States, noted on X.

Anthony Pompliano, founder and CEO of Professional Capital Management, appeared to agree with this perspective. “Countries outside of the U.S. are prioritizing Bitcoin acquisition,” he observed on X. “They don’t view altcoins as having national significance.”

On the other hand, Joe Lonsdale, co-founder of Palantir, took a more critical view, stating that it is “not the appropriate, principled role of government” to invest in cryptocurrencies at all.

“It’s wrong to seize my funds for left-wing agendas; it is equally unjust to tax me for crypto ventures,” he remarked.

The Trump administration has yet to provide specific details regarding the operation of the reserve. Some observers have drawn parallels between the SCR and the Strategic Petroleum Reserve, which functions as the nation’s emergency oil reserve to protect the economy and national security during significant supply crises.

In January, Trump established a working group focused on digital assets, appointing venture capitalist and former PayPal executive David Sacks to lead it. His executive order instructed the group to investigate the establishment of a national digital asset stockpile, potentially including cryptocurrencies that are legally seized in federal law enforcement activities.

David Sacks has indicated that more information regarding the reserve will be disclosed at the inaugural White House Crypto Summit on Friday, March 7.

Trump’s views on cryptocurrency have significantly evolved over the years. In 2019, he dismissed Bitcoin and other digital currencies as “not money,” claiming their values were “highly volatile” and “based on thin air,” while cautioning that unregulated cryptocurrencies could “enable illegal activities, including drug trade and other unlawful behaviors.”

As he campaigned for a rematch against Joe Biden, Trump began to embrace the cryptocurrency community. Biden’s four-year presidency saw increased regulatory scrutiny on crypto trades, framed by concerns over fraud and money laundering.

Since Trump’s return to office, the Securities and Exchange Commission (SEC) has softened its approach, discontinuing investigations into several prominent crypto companies, including the termination of a 2023 lawsuit against Coinbase for supposedly operating as an unregistered broker.

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