The US government's decision to establish strategic crypto preparedness has sparked a fierce debate, with industry leaders questioning its structure and asset choices.
On March 2nd, US President Donald Trump revealed that his executive order directed his administration to establish a national cryptocurrency sanctuary. He said the initiative aims to solidify the nation's leadership in the digital assets field.
The reserves include Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA). However, authorities have not stated how these assets will be weighted within the reserve.
Industry pushback to Altcoins inclusion
The inclusion of multiple cryptocurrencies has sparked concerns as many people expected to focus solely on Bitcoin. Critics argue that adding Altcoins can complicate initiatives and create unintended market biases.
Jeff Park, head of Bitwise's Alpha Strategies, criticized the decision as a political miscalculation. He warned that including assets beyond Bitcoin could raise concerns about government favors, even if the choice was made objectively.
He said:
“[The] The big problem here is optics. Including Altcoins, where use cases cannot be considered early “nationally strategic,” puts the assumption of internal transactions at risk, even if they are patently false. This is politically negative, even among a subset of crypto enthusiasts. ”
Meanwhile, Coinbase CEO Brian Armstrong proposed that Bitcoin exclusive reserves offer a simpler strategy. He proposed that market cap-weighted indexes for digital assets could become a more structured approach if diversification is required.
Armstrong said:
“Bitcoin is probably the only best option. It's the easiest and clearest story for Gold's successor.”
Bitise CEO Hunter Horsley also weighed in, highlighting that Bitcoin remains the most powerful storage of value. He expressed his interest in understanding the reasons behind the selection of reserve assets, but argued that strategic preparation should focus on the most reliable digital assets.
He said:
“Many crypto assets have benefits, but what we're talking about here is not the US investment portfolio. We're talking about reserves, and Bitcoin is a worthless, worthless storage of the digital age.”
Ki Young Ju's CEO of Crytpoquant also showed weight, pointing out that Bitcoin and Ethereum were excluded from the original announcement post.
“Trump first mentioned XRP, SOL and ADA, then raised BTC and ETH two hours later.
Can you interpret his tweet like this?
'Show your strategic values for BTC and ETH, me and America. I've just finished my contracts with XRP, Sol and Ada. ”
Since Trump's election, universal moral standards have fallen. Now, if something benefits Trump and serves us in our national interests, it is no longer considered illegal. ”
XRP and Cardano defend their inclusion
The selected altcoin supporters defended their inclusion and argued that it was part of a wider victory for emerging industries.
Ripple CEO Brad Garlinghouse criticized Bitcoin Maximalism and said the crypto industry is thriving in collaboration. He welcomed the government's recognition of the future of Multichine.
According to him:
“[I] Thank you President Kripto's Donald Trump for his vision of the industrial officer in government digital assets reserve. Maximism is the enemy of industry advancement. I'm glad to see Potus realise that we live in a multichine world. ”
Similarly, Cardano founder Charles Hoskinson highlighted the blockchain's long-term commitment to security and decentralization, expressing confidence in its ability to contribute meaningfully to the crypto landscape.
Hoskinson said:
“Cardano is a very strong believer in working really hard over the past decade and trying to build a system that preserves and protects the integrity of the entire cryptocurrency space.”
