## President Donald Trump Ignites a Crypto Buzz
On Sunday, President Donald Trump set off a significant stir in the cryptocurrency world with his posts on the Truth Social platform, where he mentioned a proposed U.S. crypto reserve for the nation’s economy. He identified XRP, Solana (SOL), and Cardano (ADA) as the initial cryptocurrencies to be included in this reserve, a strategic move aimed at establishing the U.S. as a frontrunner in the digital asset space. This announcement led to a notable surge in the prices of these tokens. After initially listing just these three assets, the President later expanded the reserve to include Bitcoin (BTC) and Ethereum (ETH), a concept he has been contemplating since launching his 2024 presidential campaign.
## Bitcoin Is “Digital Gold”: Schiff
Prominent financial commentator Peter Schiff raised eyebrows by questioning the inclusion of XRP in the crypto reserve, while he acknowledged the logic behind including Bitcoin. Schiff, a well-known advocate for gold, expressed that he understands the reasoning for a Bitcoin reserve, given that Bitcoin is often viewed as a digital counterpart to gold. “Bitcoin is digital gold, which is better than analog gold. So let’s create a Bitcoin reserve too,” he stated, surprisingly endorsing the idea. However, he expressed confusion regarding XRP’s place in the reserve, asking, “But what’s the rationale for an XRP reserve? Why the hell would we need that?” Despite being a noted crypto skeptic, many Bitcoin enthusiasts quickly sided with Schiff, advocating for a Bitcoin-only strategy instead of including what some refer to as “shitcoins.” One observer remarked on X, “This is exactly correct. The only cryptocurrency it makes sense for the government to hold long-term is Bitcoin. Will XRP even be here in 10 years? Who knows?”
## Charles Hoskinson Defends XRP
In contrast, Charles Hoskinson, the creator of Cardano—another altcoin featured in the crypto reserve—came to XRP’s defense, asserting that it represents a “great technology” and a “global standard.” He highlighted that XRP has endured for a decade, supported by “one of the strongest communities.” “I think the president made the right decision,” he remarked. Interestingly, Hoskinson has had his share of disagreements with the XRP community in the past. In late 2022, he described the XRP community as “toxic and petty,” claiming that the payments-focused token “provides no partnership or technical value.” However, in recent months, the Cardano founder has taken steps to reconcile with XRP supporters. Ripple’s CTO, David Schwartz, was taken aback when Hoskinson recently praised XRP, even questioning if he was dreaming. Hoskinson clarified, “No, I just appreciate your work after spending some time with the code and protocol for the Glacier Drop.”
