Trump Says US Crypto Strategic Reserve Will Include Altcoins
Cryptocurrency prices surged after President Donald Trump announced that a US strategic reserve of digital assets would include Bitcoin and lesser-traded tokens, giving a boost to an industry that has forged closer ties with the White House.
On Sunday, Trump posted on his Truth Social account that the strategic reserve would “elevate this critical industry after years of corrupt attacks by the Biden administration.”
The idea of a reserve has been advocated by crypto traders, who argue that a structure similar to Fort Knox for gold—one that would purchase and hold Bitcoin—would lend legitimacy to the asset class. Legislative proposals are already advancing through state and federal bodies.
One Republican-backed Senate bill proposes directing the US Treasury to buy 1 million Bitcoin, valued at approximately $94 billion based on current market prices.
However, these bills face opposition, including from some Republican lawmakers who argue that they place taxpayer funds at risk. Additionally, the reserve itself raises concerns regarding potential conflicts of interest, as some of Trump’s advisers have investments linked to the market.
