Key Highlights:
- Solana's SOL and XRP saw significant increases following reports of Trump's interest in a national reserve of cryptocurrencies.
- Market analysts criticized the initiative, deeming it a poor strategy, arguing that the government should not invest in altcoins as if they were venture capital.
A strategic bitcoin reserve has been heavily debated ahead of Donald Trump’s upcoming inauguration. The question remains: will he consider other cryptocurrencies as well?
Solana's SOL, XRP, and Hedera's HBAR have shown excellent performance lately, bolstered by reports suggesting Trump may establish an 'America-first strategic reserve' for these tokens, including Circle's USDC.
This speculation led to SOL rising over 8% and XRP reaching $3.35, nearing its historic peak. HBAR also surged more than 10%. Yet, concerns about nationalizing digital assets were raised by prominent market observers like Quinn Thompson of Lekker Capital, calling the idea "absurd."
Thompson emphasized, "It's not the government's role to make venture capital investments in altcoins." Similarly, Anthony Georgiades from Innovating Capital cautioned against the potential drawbacks of such a national reserve, warning that it could undermine decentralization efforts in blockchain economies.
