Crypto Leaders React to Trump’s Strategic Reserve Plan
U.S. President Donald Trump’s announcement of a potential crypto strategic reserve has sent ripples through the digital asset market. The plan, initially including XRP, Cardano’s ADA, and Solana’s SOL, later expanded to encompass Bitcoin (BTC) and Ether (ETH), sparking considerable discussion among industry leaders.
Trump’s proposal, which has been a topic of discussion since his 2024 presidential campaign, led to an immediate market reaction. Following his January executive order to evaluate the establishment of a national digital asset stockpile, Trump stated his intention to move forward with the plan. A White House Crypto Summit, scheduled for March 7th, is anticipated to provide further details. The digital assets working group is set to host a summit on Friday with crypto industry and government representatives.
Market volatility ensued, with ADA and XRP experiencing significant gains, and Bitcoin recovering some recent losses. However, traders are proceeding with caution until concrete details are released.
Here’s what key figures in the crypto industry have to say:
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Hunter Horsely, CEO of Bitwise:
“I imagined a Strategic Reserve would be just bitcoin. That makes the most sense to me. Many crypto assets have merits, but what we’re talking about here isn’t a US investment portfolio — we’re talking about a reserve, and Bitcoin is the undisputed store of value for the digital age. Of course, I’m grateful the new administration is so constructive on the space. I look forward to learning more about thinking here.”
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Brad Garlinghouse, CEO of Ripple Labs:
“I’ve said this before – the crypto industry will achieve our goals (and beyond), IF WE WORK TOGETHER. Appreciate the crypto President @realDonaldTrump’s vision of a govt digital asset reserve representative of the industry. Maximalism is the enemy of the industry’s progress. Glad to see POTUS recognizing we live in a multichain world and that we’re finally moving past Bill Hinman and the Biden administration’s SEC’s very broken thinking. I will certainly continue to champion this while in Washington at the end of this week.”
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Brian Armstrong, CEO of Coinbase:
“Excited to learn more. Still forming an opinion on asset allocation, but my current thinking is: 1. Just Bitcoin would probably be the best option – simplest, and clear story as successor to gold. 2. If folks wanted more variety, you could do a market cap weighted index of crypto assets to keep it unbiased. But probably option #1 is easiest.”
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Peter Schiff, renowned gold bull and bitcoin critic:
“I get the rationale for a Bitcoin reserve. I don’t agree with it, but I get it. We have a gold reserve. Bitcoin is digital gold, which is better than analog gold. So let’s create a Bitcoin reserve too. But what’s the rationale for an XRP reserve? Why the hell would we need that?”
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Arthur Hayes, founder of BitMEX and Maelstrom:
“Nothing new here. Just words. Lmk when they get congressional approval to borrow money and or revalue the gold price higher. Without that they have no money to buy #bitcoin and #shitcoins.”
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Tracy Jin, COO of MEXC:
“This move signals recognition of cryptocurrencies’ value and contribution to the national economy, their role in economic strategy, and the growing recognition of blockchain’s potential to drive innovation in the global shift to a digital economy. The U.S. crypto reserve could play an important role in stabilizing volatility, providing legitimacy, and democratizing access to crypto assets. It could also pave the way for clearer regulatory guidelines, which key industry players have long advocated. Historically, strategic reserves have significantly driven demand for commodities like crude oil and gold. Institutional and central bank interest in gold led to a 26% price increase in 2024, and a similar effect could be seen for crypto assets with strong technological foundations and real-world applications.”
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James Butterfill, Head of Research at CoinShares:
“We are surprised to see digital assets other than Bitcoin included in the strategic reserve, as they differ significantly in nature. Unlike Bitcoin, which serves as a fixed-supply asset that can help hedge against a depreciating fiat currency, these assets are akin to tech investments. The announcement suggests a more patriotic stance toward the broader crypto technology space, with little regard for the fundamental qualities of these assets.”
