- Coinbase CEO Brian Armstrong opines that only Bitcoin is the best option for a US crypto strategic reserve.
- Brian Armstrong also suggested creating a market-cap weighted index of crypto assets in case diversity is the priority.
The crypto market witnessed a strong comeback in the late evening Asian hours followed by Trump’s new announcement. While Bitcoin price rose by around 10% within a few hours, Ethereum, XRP, Solana, and Cardano have also recorded two-digit surges. All credit goes to Trump’s new announcement on Truth Social regarding the US crypto strategic reserve.
Trump’s announcement reads that the proposed crypto strategic reserve would include XRP, SOL, and ADA alongside Bitcoin and Ethereum. It quickly brought a life to the broader crypto market that was on a bearish trend for the past week. Meanwhile, industry leaders expressed their views on social platforms on Trump’s statement.
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
Coinbase CEO Brian Armstrong posted on X regarding Trump’s new plans to include altcoins to the US crypto reserve. Even though he was still forming an opinion on this matter, he expressed his views on his official X account.
Brian opines that only Bitcoin would probably be the best option to create a crypto strategic reserve. On the other hand, if people would like to have diversity, a market-cap weighted index of crypto assets is the next best option. But, Brain emphasized that the first option of including only Bitcoin in the US crypto reserve is the simplest and clear story as successor to gold.
Attention of all bag holders is on this one word now. 🤣
Chill guys. No need to overanalyze.
More “valuable crypto” are likely to be added over time.
More countries will follow.It’s a fantastic start of something really good. Be happy. Keep building. pic.twitter.com/rJY53G6s9n
— CZ 🔶 BNB (@cz_binance) March 2, 2025
Another leading exchange Binance’s former CEO CZ also reposted Trump’s announcement and shared his thoughts. He asked the audience to chill and not overanalyze Trump’s new plans. He focused on Trump’s statement that included, “other valuable cryptocurrencies will be at the heart of the reserve.”
CZ stated that this move could push other countries to follow and will be the start of something good for the industry. Former Binance CEO might be hoping for BNB to make it to the list of the altcoins that will be included to the US strategic reserve. Otherwise, he might not highlight the single line from Trump’s statement.
Meanwhile, Trump’s new announcement also attracted criticism from other industry leaders, other than the Coinbase CEO. Co-founder of BitMEX, Arthur Heyes stated that there is nothing new in Trump’s announcement. He further says,
“Let me know when they get congressional approval to borrow money and or revalue the gold price higher. Without that they have no money to buy Bitcoin and shitcoins.”
Heyes’ post speaks the bitter truth, reflecting on the practical possibility of creating a US crypto strategic reserve. Nonetheless, the news has already had a positive impact on the crypto market. Top cryptocurrencies are going on an upward price movement ever since Trump revealed plans to include altcoins in the crypto reserve.
Highlighted Crypto News Today:
Solana (SOL) Makes Strong Comeback Amid Trump’s Strategic Reserve Move
Source: https://thenewscrypto.com/coinbase-ceo-says-only-bitcoin-is-the-best-option-for-us-crypto-reserve/