Donald Trump fulfilled a major campaign promise yesterday by announcing a prospective strategic reserve for XRP, Solana, and Cardano.
The 47th president of the United States announced via Truth Social that he has given an Executive order directing the presidential working group to move forward on a Crypto Strategic Reserve that includes XRP, SOL, and ADA.
The President vowed to make the United States the Crypto Capital of the World, and this was just the preliminary steps.
The announcement sparked a mixed reaction in the global crypto community. The consensus during the campaign was a bitcoin reserve, which was not mentioned in the initial announcement.
The XRP Community was elated by the news, which marked the beginning of something great for the project.
However, there was backlash following the announcement by Bitcoin Maxi’s who felt that the Primary Crypto asset was omitted from the strategic reserve.
Bitcoin Mentioned in Passing
A few minutes after President Trump’s initial announcement on the strategic Bitcoin Reserve, the president reiterated that Bitcoin and Ethereum will be at the heart of the reserve.
This was commendable but was not enough to douse the FUD rising from the initial announcement.
XRP has always been strongly criticized by people who feel it is too centralized. The project’s parent company, Ripple, just won a landmark case with the Securities and Exchange Commission, which had lingered for months.
Many industry watchers believe Ripple CEO Brad Garlinghouse actively lobbied the Trump Presidency for a strategic XRP reserve on Pro American Grounds.
That seems to have worked. XRP was named first for the strategic reserve alongside Solana and Cardano.
An official launch of the strategic reserves is yet to be announced at the time of the report.
What is a Crypto Strategic Reserve?
A Crypto Strategic Reserve (CSR) is a proposed or implemented stockpile of cryptocurrencies held by a government, organization, or entity. It is modeled after traditional strategic reserves like the U.S. Strategic Petroleum Reserve.
The concept involves accumulating digital assets like Bitcoin (BTC), Ethereum (ETH), or others to serve specific economic, financial, or geopolitical purposes.
As of the time of the report, no functional CSR exists in the United States. However, the idea has gained traction, particularly in the U.S., driven by figures like former President Donald Trump and Senator Cynthia Lummis.
