Growing Odds for U.S. Crypto Reserve, But Uncertainty Remains: Citi

Citi: U.S. Crypto Reserve Becoming More Likely, Key Questions Remain

A U.S. strategic crypto reserve appears increasingly probable following President Trump’s weekend announcement, according to a Citi (C) research report released Monday.

Trump confirmed that XRP, Solana (SOL), and Cardano (ADA) would be included in the reserve, later adding Bitcoin (BTC) and Ethereum (ETH) to the list.

“If the U.S. government officially establishes a strategic crypto reserve, it would reinforce the legitimacy of digital assets in global finance,” wrote Citi analyst Alex Saunders.

Currently, the U.S. government holds approximately $19 billion in cryptocurrencies, primarily Bitcoin, compared to $750 billion in gold reserves. Since the majority of these holdings come from seized assets, acquiring additional cryptocurrencies would likely require direct purchases from the market, Citi noted.

However, uncertainty remains regarding how assets will be selected. Citi warned that publicly disclosing intended purchases could lead to price surges, potentially making acquisitions costlier—similar to what happened when the U.K. sold gold in the late 1990s.

Separately, Bernstein has suggested that the Federal Reserve could sell gold or issue debt to finance crypto acquisitions.