While Donald Trump’s ambitious plan to create a national cryptocurrency reserve initially sent markets soaring, industry leaders are now locked in heated debate over which digital assets actually belong in America’s crypto treasury. The proposal, which would include Bitcoin, Ethereum, XRP, Solana, and Cardano, triggered a brief but intense market rally before prices settled back to pre-announcement levels.
Coinbase CEO Brian Armstrong thinks Trump’s got it all wrong. He’s pushing for a Bitcoin-only approach, arguing it has a “clear story as successor to gold.”
Even perpetual Bitcoin critic Peter Schiff—a guy who’d rather hug a gold bar than admit crypto has value—concedes Bitcoin makes more sense than throwing altcoins into the mix.
On the flip side, investor Fred Krueger is championing a market-weighted approach. His formula? About 75% Bitcoin, 12.4% Ethereum, and smaller percentages for other coins. Kind of like how the S&P 500 works. Seems reasonable, right?
Not to everyone. Critics are ripping into the altcoin inclusion. Alex Xu blasted the move as politically motivated, suggesting it’s just a way to reward Trump’s crypto backers.
Others called it an “advertising slot” for projects that probably won’t survive long-term. Ouch.
Let’s be real—this thing faces massive hurdles. Trump’s party barely controls the House. No one knows where the money would come from to buy all this crypto.
And crypto trader Arthur Hayes dismissed the whole plan as empty rhetoric without congressional approval. Talk is cheap. Implementation? Not so much.
The market reaction was predictable. Prices exploded, then crashed back to earth within 24 hours. Bitcoin briefly touched $95,000 before falling back. Eric Trump quickly claimed the price spikes validated his previous social media advice about cryptocurrency investments.
XRP, Solana, and Cardano enjoyed their 15 minutes of fame too.
Meanwhile, the crypto industry, which poured money into Trump’s campaign, is watching closely. The debate around which cryptocurrencies to include reflects the supply and demand dynamics that fundamentally drive crypto prices in the market. The Presidential Working Group on Digital Asset Markets would be chaired by officials from the Treasury and White House if the plan moves forward. The debate continues. The market waits.
And Washington? Well, Washington is being Washington.
