{"id":835798,"date":"2025-03-21T16:13:04","date_gmt":"2025-03-21T21:13:04","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2025\/03\/21\/trumps-crypto-reserve-plan-faces-uncertain-future-with-potential-congress-vote\/"},"modified":"2025-03-21T16:13:04","modified_gmt":"2025-03-21T21:13:04","slug":"trumps-crypto-reserve-plan-faces-uncertain-future-with-potential-congress-vote","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2025\/03\/21\/trumps-crypto-reserve-plan-faces-uncertain-future-with-potential-congress-vote\/","title":{"rendered":"Trump\u2019s Crypto Reserve Plan Faces Uncertain Future with Potential Congress Vote"},"content":{"rendered":"<p>Bitcoins <\/p>\n<div>\n<div id=\"blockquote-block_7b472abcc7b08282759eee9be5a9fc24\">\n<ul>\n<li>President Trump\u2019s post about including Bitcoin and various altcoins in a US reserve initially triggered significant market rallies before prices crashed.<\/li>\n<li>Analysts describe establishing a cryptocurrency reserve as a complex process requiring congressional approval, with several states already rejecting similar proposals.<\/li>\n<li>Some crypto experts argue for a Bitcoin-only approach to the reserve, questioning the inclusion of altcoins like XRP, Solana and Cardano.<\/li>\n<li>Ripple\u2019s CEO countered the Bitcoin-maximalist position, suggesting the crypto industry needs unity rather than division to achieve mainstream adoption.<\/li>\n<\/ul>\n<\/div>\n<p>Over the weekend US President Donald Trump<a href=\"https:\/\/cryptonews.com.au\/news\/xrp-ada-skyrocket-as-trump-says-strategic-reserve-to-include-bitcoin-ether-solana-xrp-and-cardano-126829\/\"> caused quite the commotion<\/a> when he posted about a reserve including not only<a href=\"https:\/\/cryptonews.com.au\/category\/bitcoin\/\"> Bitcoin<\/a>, but also several altcoins. The market ran with it and several altcoins, like<a href=\"https:\/\/cryptonews.com.au\/category\/xrp\/\"> XRP<\/a> and Cardano\u2019s<a href=\"https:\/\/cryptonews.com.au\/category\/cardano\/\"> ADA<\/a>, rallied by double-digit percentages.<\/p>\n<p>But it didn\u2019t last, with Bitcoin and Co crashing Monday night, Australian Time, and wiping out some of the gains made earlier.<\/p>\n<p><strong>Related:<\/strong><a href=\"https:\/\/cryptonews.com.au\/news\/crypto-etps-with-weakened-sentiment-as-4-billion-leave-funds-126929\/\"><strong> <\/strong><strong>Crypto ETPs with Weakened Sentiment as 4$ Billion Leave Funds<\/strong><\/a><\/p>\n<p>The crash could be due to the likely hurdles such a reserve could face and the time it could take to establish it.<\/p>\n<h2 id=\"h-analyst-says-reserve-a-complex-process-that-takes-time\">Analyst Says Reserve a \u201cComplex\u201d Process That Takes Time<\/h2>\n<p>Nansen principal research analyst Aurelie Barthere believes a reserve is a \u201ccomplex process that will need Congress\u2019s vote, so it will take time\u201d. Barthere questioned whether the rally following Trump\u2019s announcement was sustainable, which we now know it wasn\u2019t.<\/p>\n<div id=\"blockquote-block_45eb2bb1aa3ce0c20126a20154b1ef25\">\n<p>I would be a bit wary of the sustainability of today\u2019s move.<\/p>\n<p><img decoding=\"async\" data-eio=\"l\" data-old-src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" src=\"https:\/\/cdn.cryptonews.com.au\/2025\/03\/04130802\/Aurelie-Barthere-Nansen-principal-research-analyst.jpg\">        Aurelie Barthere, Nansen principal research analyst    <\/p>\n<\/div>\n<p>The process could see some opposition in Congress, especially given that several states, like Montana, South and North Dakota, Pennsylvania and Wyoming have<a href=\"https:\/\/cryptonews.com.au\/news\/texas-advances-bill-to-senate-as-some-us-states-drop-bitcoin-reserve-efforts-126633\/\"> rejected reserve bill proposals<\/a>.<\/p>\n<p>Even<a href=\"https:\/\/cryptonews.com.au\/news\/senator-lummis-puts-pressure-on-us-marshals-to-defend-its-record-on-seized-bitcoin-management-126088\/\"> Senator Cynthia Lummis<\/a>, a Republican from Wyoming and a staunch congressional proponent of a Strategic Bitcoin Reserve, admitted recently that more needs to be done to help lawmakers understand the benefits of the initiative.<\/p>\n<div id=\"blockquote-block_305bafb3105efe14a87c56d34f6b09b7\">\n<p>We have some work to do both in the U.S. House and in the U.S. Senate in helping people understand the reasons why we should have a strategic Bitcoin reserve.<\/p>\n<p><img decoding=\"async\" data-eio=\"l\" data-old-src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" src=\"https:\/\/cdn.cryptonews.com.au\/2024\/08\/01142917\/Cynthia-Lummis-US-Senator-from-Wyoming.jpg\">        Senator Cynthia Lummis    <\/p>\n<\/div>\n<p>Lummis also<a href=\"https:\/\/www.youtube.com\/watch?v=5Ah1SZabw_4\"> said<\/a> many altcoins don\u2019t have similar properties as Bitcoin, which would not make them a great fit in a reserve.<\/p>\n<h2 id=\"h-bitcoin-only-or-full-degeneracy-says-expert\">Bitcoin Only or Full \u201cDegeneracy\u201d, Says Expert<\/h2>\n<p>Canadian entrepreneur Samson Mow sang a similar tune, rejecting altcoins in a reserve. Mow believes two outcomes are likely for Trump\u2019s proposal, either a Bitcoin-only reserve or an acceleration \u201cinto degeneracy\u201d.<\/p>\n<figure>\n<div>\n<blockquote data-width=\"500\" data-dnt=\"true\">\n<div lang=\"en\" dir=\"ltr\">\n<p>I&#8217;ve been thinking about the US Strategic Bitcoin\/Crypto Reserve and there are two possible outcomes:<\/p>\n<p>1\u20e3 The reserve is <a href=\"https:\/\/twitter.com\/search?q=%24BTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BTC<\/a> and none of the mentioned altcoins actually make it in<br \/>2\u20e3 We&#8217;re going to accelerate into degeneracy unlike anything seen before<\/p>\n<p>Long thread time. ???????? <a href=\"https:\/\/t.co\/4EVzXeyDeE\">pic.twitter.com\/4EVzXeyDeE<\/a><\/p>\n<\/div>\n<p>\u2014 Samson Mow (@Excellion) <a href=\"https:\/\/twitter.com\/Excellion\/status\/1896513387997315568?ref_src=twsrc%5Etfw\">March 3, 2025<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n<p>While Trump mentioned XRP,<a href=\"https:\/\/cryptonews.com.au\/category\/Solana\/\"> Solana<\/a>, Cardano and<a href=\"https:\/\/cryptonews.com.au\/category\/ethereum\/\"> Ethereum<\/a> as additional reserve assets, Mow believes the president can\u2019t actually dictate what goes into a reserve, but may certainly ask a working group to look into it.<\/p>\n<div id=\"blockquote-block_cd65fe98f435bfce79332776621cdda8\">\n<p>I\u2019m pretty sure Trump knows he can\u2019t actually ensure those things are included, but if you read the words carefully, he can of course direct the work group to do something \u2013 it doesn\u2019t mean it will happen.<\/p>\n<p><img decoding=\"async\" data-eio=\"l\" data-old-src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" src=\"https:\/\/cdn.cryptonews.com.au\/2025\/02\/20143848\/Samson-Mow.jpg\">        Samson Mow    <\/p>\n<\/div>\n<p>Unsurprisingly, not everyone agrees with this assessment, especially those behind ADA and XRP, which are some of the most criticised altcoin inclusions in Trump\u2019s proposal.<\/p>\n<p><strong>Related:<\/strong><a href=\"https:\/\/cryptonews.com.au\/news\/sec-ends-wasteful-politically-motivated-campaign-drops-kraken-lawsuit-126925\/\"><strong> <\/strong><strong>SEC Ends \u2018Wasteful, Politically Motivated Campaign\u2019, Drops Kraken Lawsuit<\/strong><\/a><\/p>\n<p><a href=\"https:\/\/cryptonews.com.au\/category\/ripple\/\">Ripple<\/a> CEO Brad Garlinghouse said the industry needs to work together to move forward and that maximalism isn\u2019t the right way to achieve crypto mass adoption.<\/p>\n<figure>\n<div>\n<blockquote data-width=\"500\" data-dnt=\"true\">\n<div lang=\"en\" dir=\"ltr\">\n<p>I\u2019ve said this before \u2013 the crypto industry will achieve our goals (and beyond), IF WE WORK TOGETHER. Appreciate the crypto President <a href=\"https:\/\/twitter.com\/realDonaldTrump?ref_src=twsrc%5Etfw\">@realDonaldTrump<\/a>\u2019s vision of a govt digital asset reserve representative of the industry.<\/p>\n<p>Maximalism is the enemy of the industry\u2019s progress.\u2026 <a href=\"https:\/\/t.co\/GiAAI1NuRk\">https:\/\/t.co\/GiAAI1NuRk<\/a><\/p>\n<\/div>\n<p>\u2014 Brad Garlinghouse (@bgarlinghouse) <a href=\"https:\/\/twitter.com\/bgarlinghouse\/status\/1896252389919006989?ref_src=twsrc%5Etfw\">March 2, 2025<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure><\/div>\n<p> Aaron Feuerstein <a href=\"https:\/\/cryptonews.com.au\/news\/trumps-crypto-reserve-plan-faces-uncertain-future-with-potential-congress-vote-126934\/\" class=\"button purchase\" rel=\"nofollow noopener\" target=\"_blank\">Read More<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>President Trump\u2019s post about including Bitcoin and various altcoins in a US reserve initially triggered significant market rallies before prices crashed. Analysts describe establishing a cryptocurrency reserve as a complex process requiring congressional approval, with several states already rejecting similar proposals. Some crypto experts argue for a Bitcoin-only approach to the reserve, questioning the inclusion<\/p>\n","protected":false},"author":1,"featured_media":835799,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22791,163],"tags":[11476],"class_list":{"0":"post-835798","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-crypto","8":"category-trumps","9":"tag-bitcoins"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/835798","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=835798"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/835798\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/835799"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=835798"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=835798"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=835798"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}