Solana and XRP Surge Amid Reports of Trump’s Strategic Crypto Reserve Plans
Discussions around a strategic bitcoin reserve have intensified ahead of Donald Trump's inauguration. Speculation exists about his interest in altcoins such as SOL, XRP, and HBAR.
- Trump reportedly receptive to creating an "America-first strategic reserve" of tokens, including SOL, XRP, and Circle's USDC.
- SOL increased over 8% to $217.
- XRP rose to $3.35, nearing its 2018 record price.
- HBAR surged more than 10%, reaching its highest price since early December.
- CoinDesk 20 Index gained 5%, outperforming bitcoin's 0.5% rise to nearly $100,000.
Investor anticipation is rising for potential executive orders on digital assets post-inauguration. Trump's campaign included promises to make the U.S. a leader in crypto and create a national bitcoin stockpile. Senator Cynthia Lummis introduced the BITCOIN Act for acquiring 5% of bitcoin's supply, with some states exploring similar legislation.
Concerns Raised
- Market observers question the feasibility of government investing in altcoins.
- Quinn Thompson from Lekker Capital criticized the idea as impractical.
- Anthony Georgiades from Innovating Capital warned that nationalizing digital assets could undermine decentralization efforts.