Trump picks five cryptocurrencies for US reserve

US President Donald Trump has named five assets for the country’s strategic reserve crypto lineup: Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA). 

In a Truth Social post, Trump announced, “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.” He later added, “And, obviously, BTC and ETH, as other valuable Cryptocurrencies, will be the heart of the Reserve.” 

The crypto market reacted instantly. Within 24 hours, XRP jumped 33%, SOL climbed 25%, and Cardano’s ADA soared over 60%. Bitcoin briefly crossed $94k again, and Ethereum rose by 11%. 

Trump’s selection of these five cryptocurrencies has sparked both excitement and debate. While some see them as strong picks for a national reserve, others question the criteria behind the choices. Let’s take a closer look at what each brings to the table—and what critics are saying.

1. Bitcoin (BTC)

Launched 16 years ago by the mysterious Satoshi Nakamoto, Bitcoin is the original cryptocurrency and remains the largest by market cap. Often dubbed “digital gold,” it is valued as a store of wealth, resistant to inflation and centralized control. Last year, it smashed the $100k mark during the US election buzz, proving its strength and potential. 

Bitcoin’s mainstream adoption has grown significantly, with institutional giants like Strategy increasing their holdings. As of Sunday, the firm owns over 499k BTC (worth around $41.4 billion at the time of writing) as part of its long-term strategy. 

Last week, @Strategy did not sell any shares of class A common stock under its at-the-market equity offering program, and did not purchase any bitcoin. As of 3/2/2025, we hodl 499,096 $BTC acquired for ~$33.1 billion at ~$66,357 per bitcoin. $MSTR https://t.co/fXKTmXHve1

— Michael Saylor⚡️ (@saylor) March 3, 2025

Meanwhile, 28 US states have proposed Bitcoin reserves. So far, Utah and Arizona take the lead, with both nearing the end of the process. 

2. Ethereum (ETH)

As for ETH, it powers a blockchain that is the backbone of decentralized (DeFi), where financial services run without middlemen. Ethereum is the second-largest cryptocurrency, but a single ETH is worth significantly less than one BTC.

Ethereum is all about smart contracts—self-running, blockchain-based codes that automatically execute functions when certain conditions are met. These power blockchain-based decentralized applications (dApps), such as crypto exchange Uniswap.  

Ethereum has an established position in the crypto system. Other crypto projects like Polygon, Arbitrum, and Optimism—which are called Layer-2 solutions—were specifically developed to make Ethereum more scalable and faster. Ethereum also propelled the 2017 surge of non-fungible tokens (NFTs)—unique digital assets that prove ownership. 

3. XRP

XRP—created by US firm Ripple—is the fourth-largest cryptocurrency, engineered for speedy and cheap global transfers. Ripple developed XRP as an efficient alternative to SWIFT and other systems for global financial transactions. 

Ripple has partnered with big names like American Express and Japan’s SBI Holdings—solidifying its position and boosting XRP. These firms use RippleNet—a decentralized global network running on Ripple’s technology—for streamlining international payments and remittances. 

4. Solana (SOL)

Solana’s native cryptocurrency, SOL, ranks sixth in the market. Last year was a breakout year for the Solana network—fueled by the memecoin frenzy, the Pump.fun token launchpad, and the boom in AI-related tokens. These trends have highlighted Solana’s growing dominance in the crypto ecosystem. 

Solana is also known for its incredible speed and efficiency, making it an ideal network for dApp development. In 2024, 7,625 new devs were built on the network—making it the top ecosystem for development. 

Breaking News: Electric Capital’s Developer Report shows Solana as the #1 ecosystem for new developers in 2024!

This marks the first time any ecosystem has surpassed Ethereum for new devs since 2016 — 7,625 new devs built on Solana this year.

Let’s dive into some highlights 🧵 pic.twitter.com/ynMs13kjRL

— Solana (@solana) December 12, 2024

5. Cardano (ADA)

ADA runs on a unique blockchain called Cardano. Known for its research-driven approach, Cardano is the first blockchain built through peer-reviewed research and evidence-based practices. This makes it a blockchain built like a science project—completely unique compared to other networks. 

Positioning itself as an Ethereum alternative, Cardano aims to become a platform for dApp development. Backed by scientific approaches, it focuses on scalability, security, and sustainability in the crypto ecosystem. 

Others still push for Bitcoin-only reserve

Trump’s push for a diversified crypto reserve isn’t without controversy. Some industry leaders argue that adding multiple assets complicates the strategy, with Bitcoin alone being the only true long-term store of value. Others believe a mix of cryptos could provide more flexibility. The debate is far from settled.

Coinbase CEO Brian Armstrong shared on X, “Just Bitcoin would probably be the best option - simplest, and clear story as successor to gold.”   

Excited to learn more. Still forming an opinion on asset allocation, but my current thinking is:

1. Just Bitcoin would probably be the best option - simplest, and clear story as successor to gold
2. If folks wanted more variety, you could do a market cap weighted index of crypto… https://t.co/jv8Gcn8N2S

— Brian Armstrong (@brian_armstrong) March 3, 2025

Blockstream CEO Adam Back and Bitwise CEO Hunter Horsley echoed similar sentiments, with Horsley calling Bitcoin “the undisputed store of value for the digital age.” 

good on #bitcoin only @brian_armstrong 👍

— Adam Back (@adam3us) March 3, 2025

Saw the Trump statement today, same as everyone else — 

I imagined a Strategic Reserve would be just Bitcoin. That makes the most sense to me.

Many crypto assets have merits, but what we're talking about here isn't a US investment portfolio — we're talking about a reserve, and… https://t.co/YwLBBCt55y

— Hunter Horsley (@HHorsley) March 3, 2025

More details are expected at the White House’s first crypto summit on Friday. However, Congress still holds the final say on whether Trump’s crypto strategic reserve plans become a reality or not.