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.
This move aligns with his campaign pledge to establish a Bitcoin reserve alongside other potential crypto-focused policies to strengthen the US digital economy.
Broader approach
While Trump’s campaign for office prominently featured Bitcoin, recent reports suggest he may also prioritize assets with American origins.
The speculation has grown following meetings between Trump and leaders from Ripple and other crypto projects. Ripple executives, including CEO Brad Garlinghouse, were recently at a private dinner hosted by Trump at his Mar-a-Lago residence.
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” approach, which emphasizes boosting locally 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.
During his campaign, Trump outlined plans to position the US as a global leader in Bitcoin adoption. This included plans to enhance Bitcoin mining capabilities domestically and introduce a strategic national reserve with the top crypto.
Industry reaction
The possibility of prioritizing US digital currencies has sparked debate within the crypto community.
Advocates for assets like Solana and XRP view this as a significant win for American blockchain projects. Yet, others remain unconvinced.
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.”
On the other hand, Alexander Grieve, a government affairs expert at Paradigm, urged the public to treat such claims with skepticism unless confirmed by Trump or his administration.
Grieve stated:
“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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