“You get a reserve! You get a reserve! You get a reserve..!”
Trump Confirms Multicoin Strategic Reserve
It’s official folks: Trump’s idea for a “national bitcoin stockpile” has evolved to include every colour of sh*tcoin under the sun, even including XRP, a centralised pile of hot garbage whose devout cult following makes even the flat earth community look scholarly.
The U.S. President confirmed on Sunday his intention to establish a “Crypto Strategic Reserve” that will include multiple cryptocurrencies. His announcement on Truth Social initially highlighted three altcoins before clarifying an hour later that Bitcoin and Ethereum would “obviously” be at the “heart of the reserve.”
This announcement follows Trump’s January 23 executive order directing the Presidential Working Group on Financial Markets to explore a national digital asset stockpile, and comes ahead of a planned White House Crypto Summit on March 7 where implementation details are expected to be refined.
The inclusion of altcoins has many concerned that the President is taking the country’s crypto approach in the wrong direction.
“Why would the United States build a reserve of dogsh*t that hasn’t made new highs in 5 years? They already have US Treasuries,” tweeted Joe Consorti on Sunday.
And it isn’t just Bitcoin maximalists calling it out. Coinbase CEO Brian Armstrong responded to Trump’s ‘crypto czar’ David Sacks on Monday, saying he believed going “just bitcoin” with the crypto reserve “would probably be the best option.”
More surprisingly, even Peter Schiff sided with bitcoiners this weekend after hearing of the witch’s brew of cauldron coins that Donald Trump is preparing.
“I get the rationale for a Bitcoin reserve,” he wrote. “We have a gold reserve. Bitcoin is digital gold, which is better than analog gold. But what’s the rationale for an XRP reserve? Why the hell would we need that?”
Whatever happens, the messaging and sentiment of this whole campaign is now frustrating many bitcoiners who are rightfully feeling baited. The inclusion of other cryptocurrencies in a reserve of any kind is only “strategic” for the insiders behind these pre-mined coins who have made their fortunes by dumping on the public. Now, it just seems like Trump is returning favours to the CEOs of these companies who donated to his campaign, at the expense of America and the American people.
Bitcoin Dominance Rises As Ethereum Struggles
Bitcoin’s dominance over the crypto market has strengthened in early 2025, now representing 59% of total market cap as of March 2.
Yes, that includes stable coins – which are literally just dollars on a blockchain. If you take those out, it’s more like 70% BTC dominance.
Meanwhile, Ethereum continues to hit new lows against BTC this month, with the ETH/BTC ratio dropping to 0.025. That’s the lowest level since late 2020, heading in the opposite direction that crypto traders thought it would during a cyclical bull market.
Saylor Proposes Crypto Regulatory Framework to SEC
Strategy executive chairman Michael Saylor presented a comprehensive regulatory framework to the SEC’s crypto task force on February 27, proposing that digital assets be classified into four distinct categories: Digital Commodities (like Bitcoin), Digital Securities (tokenized equity or debt), Digital Currencies (fiat-backed stablecoins), and Digital Tokens (utility-based assets).
“We can provide 400 million businesses access to capital markets and empower 8 billion people economically,” Saylor said of the framework.
Saylor, whose firm now holds $42.6 billion in BTC (225,500 BTC as of late 2024), urged replacing the SEC’s enforcement-heavy approach with clear, universal standards. He endorsed Trump’s strategic Bitcoin reserve, projecting it could grow BTC’s market cap to between $16-81 trillion, potentially offsetting the U.S.’s $36 trillion national debt.
While known as a Bitcoin maximalist, Saylor’s framework accommodates all digital assets – and evolving views from Saylor promotes BTC as unique digital money while still acknowledging how other digital assets can be valuable. He argued that clear regulatory rules would unlock institutional capital, citing MicroStrategy’s own BTC position—up $25 billion since late 2024—as proof of corporate adoption potential.
States Struggle to Establish Bitcoin Reserves Despite Federal Momentum
Several U.S. states have rejected bills to establish Bitcoin reserves in early 2025, highlighting a growing disparity between state and federal crypto initiatives.
Wyoming, which pioneered crypto-friendly laws in 2019, saw its Bitcoin reserve proposal narrowly defeated, while similar bills in Texas and Oklahoma were shelved after fiscal debates. Lawmakers cited volatility risks, regulatory uncertainty, and budget constraints as key concerns, with Bitcoin’s recent dip below $80,000 fueling skepticism.
Unlike Trump’s federal reserve plan, which cleverly utilizes $19 billion in already-seized Bitcoin, state initiatives required new funding appropriations—a significant hurdle in tight budget environments.
Cynthia Lummis, chair of the Senate’s digital assets subcommittee, is still pushing forward on national legislation for a Bitcoin reserve, which would task the government with purchasing one million BTC over five years using its existing gold reserves. Whether it can pass through Congress, however, is yet to be seen.
Stay humble,
Andrew
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