Trump's Crypto Reserve Slammed By Bitcoiners But BTC, XRP, SOL, ADA Surge Anyway

US President Donald Trump has shown his support for a crypto reserve that would feature Bitcoin , Ethereum , XRP , Solana , and Cardano . However, while the market has responded positively, the wider crypto community isn't wholly convinced.

Making the announcement on Truth Social, Trump said, "A U.S. Crypto Reserve will elevate this critical industry after years of corrupt attacks by the Biden Administration, which is why my Executive Order on Digital Assets directed the Presidential Working Group to move forward on a Crypto Strategic Reserve that includes XRP, SOL, and ADA."

"I will make sure the U.S. is the Crypto Capital of the World. We are MAKING AMERICA GREAT AGAIN!" He added. "And, obviously, BTC and ETH, as other valuable Cryptocurrencies, will be the heart of the Reserve. I also love Bitcoin and Ethereum!"

Trump had previously floated the idea of a crypto reserve during his speech at Bitcoin 2024, ahead of the election. "If I am elected, it will be the policy of my Administration — the United States of America — to keep 100% of all the Bitcoin the government currently holds or acquires into the future. We will keep a hundred percent," he said at the time.

Following his announcement, XRP, SOL, and ADA jumped 30%, 20%, and 60% respectively, while BTC and Ethereum rose around 10%.

But the palpable excitement felt in the markets, Trump's proposed crypto reserve hasn't gone down too well with Bitcoin fanboys. Samson Mow, who (in)famously predicted Bitcoin would hit $1 million last year, described Trump's announcement as a "sad day" due to its inclusion of "shitcoins."

" #Bitcoin might be up but it’s a sad day for America if they actually shitcoin at a nation-state level. I can’t really say I’m surprised though, with Trump having launched a memecoin," he tweeted. "Hypershitcoinization awaits."

Riot Platforms vice president of research, Pierre Rochard, shared similar sentiment towards the reserve's altcoin inclusion.

“As altcoins inevitably demonetize and trend to zero relative to Bitcoin, the strategic reserve will naturally become Bitcoin-only. Folks, this is Economics 101,” he said.

Blockstream CEO Adam Back also shared a meme that stated, “Best I can do is a strategic shitcoin reserve.”

It's debatable about how warranted such skepticism is towards Trump's crypto reserve but over in Switzerland, Bitcoin has meanwhile been ruled out as a suitable reserve currency.

Swiss National Bank (SNB) President Martin Schlegel rejected holding Bitcoin as part of the country's central bank reserves due to stability, liquidity, and security concerns.

“Second, our reserves need to be highly liquid so that they can be used quickly for monetary policy purposes if needed,” Schlegel said. “We all know that software can have bugs and other weak points.”