Trump Expands Crypto Strategy, Embraces XRP, Solana, and Cardano

The United States is making a bold move in the crypto space, with President Donald Trump directing the President’s Working Group on Digital Assets to include XRP (XRP), Solana (SOL), and Cardano (ADA) in the US Strategic Crypto Reserve. This marks a significant expansion beyond Bitcoin (BTC) and Ethereum (ETH), which Trump had previously identified as the core holdings of the reserve.

A Shift in US Crypto Policy

The announcement signals a shift in how the US government views digital assets. While Bitcoin remains central to Trump’s strategy, the inclusion of multiple blockchains indicates a broader vision for blockchain integration into national financial systems.

During his keynote speech at the Bitcoin 2024 conference in Nashville, Tennessee, Trump reaffirmed his administration’s commitment to building a national Bitcoin stockpile. However, the subsequent addition of XRP, Solana, Cardano, and Ethereum has sparked debate among crypto purists.

What Each Crypto Brings to the Table

• Bitcoin (BTC): The original cryptocurrency and store of value, positioned as the foundation of the reserve.
• Ethereum (ETH): A key player in decentralized finance (DeFi) and NFT ecosystems, crucial for smart contract applications.
• XRP (XRP): Known for fast transaction speeds and cross-border payments, signaling a government interest in blockchain-based financial infrastructure.
• Solana (SOL): Recognized for high throughput and low fees, making it an attractive asset for scalable decentralized applications (dApps).
• Cardano (ADA): Valued for its security, sustainability, and formal verification, making it a strong candidate for government-backed blockchain initiatives.

The President’s Working Group on Digital Assets is now tasked with determining how these assets will be acquired, stored, and managed, raising new questions about future US crypto regulations.

Bitcoin Maximalists Push Back

While Trump’s previous stance on Bitcoin won him favor among hardcore Bitcoin maximalists, his decision to expand the reserve has led to mixed reactions.

Criticism from Bitcoin Maximalists:

Some Bitcoin-only advocates believe that including alternative cryptocurrencies dilutes Bitcoin’s primacy as the world’s leading digital asset. Critics, including Walker, host of THE Bitcoin podcast, and Pierre Rochard, VP of Research at Riot Platforms, took to social media to express disappointment, pointing out that Trump’s move deviates from earlier promises to focus solely on Bitcoin.

Support from Crypto Industry Leaders:

Others see this as a pragmatic decision, acknowledging that different blockchains serve unique purposes. By diversifying the reserve, the US government is hedging against reliance on a single blockchain network.

Trump’s Stance on CBDCs and Future Crypto Regulations

Alongside this move, Trump has taken a strong stance against central bank digital currencies (CBDCs). His executive order bans US agencies from pursuing CBDC development, aligning with the broader Republican skepticism toward government-controlled digital currencies.

Meanwhile, Republican lawmakers have announced the formation of a bipartisan crypto working group, aiming to craft crypto-friendly policies that favor private-sector blockchain development while limiting government control over digital assets.

What’s Next for US Crypto Policy?

Key Event to Watch: White House Crypto Summit – March 7
This upcoming summit will focus on crypto regulation and financial inclusion,  the role of digital assets in the US economy, and the future of the Strategic Crypto Reserve

Trump’s latest move cements the US government’s evolving approach to crypto, setting the stage for greater integration of digital assets into national financial strategies. The coming months will be crucial in shaping how the US navigates the regulatory landscape while positioning itself as a leader in the global digital economy.