Trump Includes Altcoins in US Crypto Strategic Reserve Amid Market Reactions

US President Donald Trump announced that altcoins will be added to the government's crypto strategic reserve, expanding the initial focus on Bitcoin. Expected inclusions are Ether, XRP, Solana, and Cardano. Following this announcement, the cryptocurrency market saw a 10% increase.

Key reactions from industry leaders include:

David Sacks expressed support for the announcement.
Arthur Hayes cautioned that congressional backing is necessary for adding altcoins.
Changpeng Zhao viewed it as a positive start, suggesting more valuable cryptocurrencies may be added later.
Brian Armstrong recommended a market cap weighted index for altcoins if they are included.

The discussion also includes the potential for meme coins in the reserve. The meme coin market experienced a significant surge in 2024, with a collective market capitalization growth of 330%. Notable meme coins include DOGE, SHIB, and newcomers like Solaxy ($SOLX) and MIND of Pepe ($MIND).

In summary, while Trump's focus is on established altcoins, the growing interest in meme coins could position them for future consideration in the reserve.