Trump’s Reported ‘America-First’ Crypto Reserve Plans Ignite Solana and XRP Gains, But Experts Hold Different Views

As President-elect Donald Trump prepares for his inauguration, the possibility of a national cryptocurrency reserve has captured the attention of investors, with speculation now surrounding whether Bitcoin (BTC) could be joined by altcoins in the U.S. government’s strategic crypto holdings.

The latest development comes from reports suggesting that Trump is open to the idea of creating an “America-first strategic reserve” of digital assets, potentially including popular altcoins such as Solana (SOL), XRP, and Hedera (HBAR). This has sparked a notable surge in these altcoins, with SOL rising 8% to $217, XRP climbing to $3.35 (nearing its 2018 highs), and HBAR gaining 10% to reach its highest price since December.

The news caused a 5% rally in the CoinDesk 20 Index, far outpacing Bitcoin’s own 0.5% increase, which saw the largest cryptocurrency approach the $100,000 mark once again. This surge coincides with growing optimism ahead of Trump’s swearing-in on January 20, with crypto traders anticipating that the incoming administration will push forward with pro-crypto policies.

Trump’s campaign promises, including plans to establish a national bitcoin reserve, have long been a focal point for crypto enthusiasts. However, the idea of including altcoins like Solana, XRP, and HBAR has raised eyebrows, with some market participants questioning whether these assets should be treated similarly to Bitcoin in terms of a national reserve.

While the proposal has sparked enthusiasm in the altcoin market, not everyone is convinced. Quinn Thompson, founder of Lekker Capital, criticized the idea, calling it a “bad policy” and emphasizing that the government should not be making speculative bets on altcoins. He further stated, “The focus should remain on Bitcoin as the primary store of value in the crypto space.”

Anthony Georgiades from Innovating Capital also voiced concerns, suggesting that any move toward nationalizing digital assets could undermine the decentralization principles on which cryptocurrencies are based. “Bitcoin is the only truly decentralized cryptocurrency at this stage, and introducing national control over assets like Solana or XRP could hinder the ethos of decentralization,” Georgiades warned.

Despite the debate, the prospect of an official crypto reserve continues to drive speculation in the market, with many traders keeping a close eye on developments as the new administration takes office. While Bitcoin remains the frontrunner in this potential reserve, altcoins are increasingly seen as candidates for inclusion, depending on the direction of U.S. crypto policy under Trump’s leadership.