James Richardson
Coinbase CEO Brian Armstrong has shared his perspective on Donald Trump’s Crypto Strategic Reserve, stating that Bitcoin alone would be the most effective choice for inclusion.
“Just Bitcoin would probably be the best option—simplest, and a clear story as the successor to gold,” Armstrong wrote in an X post on Sunday night. He also mentioned that he is still evaluating asset allocation but suggested that if diversity is necessary, a market cap-weighted index of cryptocurrencies could be a fair approach.
Trump’s Sunday social media post confirmed that the planned Crypto Strategic Reserve would include Bitcoin (BTC) and Ethereum (ETH), while also directing his working group to proceed with a reserve holding Solana (SOL), XRP, and Cardano (ADA).
However, BitMEX co-founder Arthur Hayes dismissed the announcement as lacking real impact, arguing that without congressional approval for funding or a revaluation of gold, the government lacks the financial resources to buy Bitcoin and other cryptocurrencies.
“Nothing new here. Just words,” Hayes wrote on X.
Crypto Market Rallies Following Trump’s Statements
Despite skepticism from some industry leaders, Trump’s comments have sparked a surge in the crypto market.
- Bitcoin is up over 8% in the past 24 hours.
- Ethereum has climbed 11% during the same period.
- XRP has gained 13%, while Solana rose 10% and Cardano skyrocketed by 42%, according to PRIME’s price data.
Changpeng Zhao Urges Patience
Meanwhile, Binance founder Changpeng “CZ” Zhao took a more optimistic stance, advising the community not to overanalyze the situation.
“Chill guys. No need to overanalyze,” Zhao wrote on X, attaching a screenshot of Trump’s post. He also hinted that more cryptocurrencies may be added over time, emphasizing that this is just the beginning of a positive shift in global crypto adoption.
