Recently, the President of the United States, Donald Trump, announced the creation of a Strategic Cryptocurrency Reserve, aimed at positioning the country as a leader in the digital asset sector. Initially, Trump mentioned that the reserve would include XRP, Solana (SOL), and Cardano (ADA). After questions about the absence of the two largest cryptocurrencies by market capitalization, he clarified that Bitcoin (BTC) and Ethereum (ETH) would also be part of the reserve.
The announcement had significant impacts on the crypto market. The price of ADA increased by more than 63% within two hours after the statement, while SOL and XRP recorded gains of 23% and 32%, respectively. Bitcoin also saw an increase of 7.6%, surpassing US$ 91.000.
Trump's proposal aims to legitimize the cryptocurrency sector and diversify government assets. However, there is skepticism due to the volatility of these assets and security concerns related to potential sophisticated cyberattacks. Additionally, the implementation of the reserve is being discussed by an interagency working group that is assessing the current government holdings of cryptocurrencies and possible strategies for acquiring new digital assets.
It is important to note that the creation of a strategic cryptocurrency reserve represents a significant step in the institutional adoption of these assets. However, the effectiveness and security of this initiative will depend on clear regulations and a robust infrastructure for the management and protection of these digital assets.
