President Donald Trump shocked the markets on Sunday when he announced The assets intended for a planned American strategic crypto reserve.
Analysts at investment firm Bernstein are surprised at the announcement of US President Donald Trump that he would include Ethereum, XRP” SolanaAnd Cardano In a national crypto reserve together with Bitcoin, on Monday writes in a note that the move is difficult to be in practice if the US central bank is involved.
“The position of Bitcoin as a ‘digital gold’ for the US government was expected,” analysts Gautam Chhugani, Mahika Sapra and Sanskar Chindalia wrote in a Monday report.
“ETH and Sol are the two most used blockchain networks, and keeping their indigenous assets supports the growth of the industry but the reason for a sovereign to keep it in reserve is unclear,” they noticed.
In a Sunday post on his social social platform, Trump announced a crypto reserve to elevate ‘this critical industry after years of corrupt attacks by the Biden administration’. He would like to fulfill campaign blows to the industry that supported him overwhelming, including calling the establishment of a crypto reserve.
The analysts of Bernstein added that it was still not clear whether the idea of a crypto reserve could only be implemented with an executive order. And convincing other members of the government to keep Altcoins such as Solana and Ethereum would probably be difficult, they continued.
“We think that a realistic path could be that the US government can convince the congress that Bitcoin is the new digital gold/worldwide value shop and a redistribution of gold revaluation/gold reserve is logical,” the report said. “But buying other blockchain assets There is a difficult sale of Fed funds or treasury funds. “
He said that cryptocurrencies such as Ethereum, the second largest digital currency of Market Cap, and Solana, would be kept by the authorities.
During his campaign, the president had focused on Bitcoin for a potential national stock. His plans to record Altcoins surprised many industrial observers.
Bitcoin jumped sharply after Trump’s post and hit almost $ 95,000 on Sunday, but lost that win in Monday trade and immersed almost as low as $ 85,000 in the afternoon.
Crypto -markets have been swimming in recent weeks in the midst of concern about inflation, a potential trade war that results from Trump rates and other macro -economic uncertainties. Bitcoin handles his all time above $ 108,000, determined in January.
Published by James Rubin
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