Bitwise Calls Trump’s Strategic Crypto Reserve Announcement Bullish for Market
U.S. President Trump's recent announcement about establishing a strategic crypto reserve has been viewed positively by asset manager Bitwise, despite immediate market fluctuations.
- Crypto markets initially rose following the news but later lost all gains.
- The proposed reserve will include assets such as XRP, Solana, Cardano, Bitcoin, and Ethereum.
- Bitwise noted investor dissatisfaction due to the inclusion of non-Bitcoin tokens.
- Chief investment officer Matt Hougan commented on the speculative nature of some assets included.
- The final composition of the reserve is expected to focus heavily on Bitcoin and exceed market expectations.
- If established, it may influence other nations to create similar reserves, with acquired digital assets likely held long-term.
- The U.S. government's classification of crypto as "strategic" is seen as a bullish indicator for the market.