Coinbase CEO Brian Armstrong Weighs In on U.S. President Donald Trump's Sunday Crypto Reserve Announcement

Coinbase CEO Brian Armstrong has weighed in on U.S. President Donald Trump's Sunday crypto reserve announcement

Coinbase CEO Brian Armstrong has chipped in his thoughts on U.S. President Donald Trump's Sunday announcement of a crypto reserve, suggesting that including only Bitcoin in the proposed reserve would be the best option.

"Just Bitcoin would probably be the best option - simplest, and clear story as successor to gold," Armstrong stated in an X post on Sunday night ET, as he disclosed still forming his opinion on asset allocation. "If folks wanted more variety, you could do a market cap-weighted index of crypto assets to keep it unbiased. But probably option #1 is easiest."

The Coinbase leader's comment follows Trump's statement on social media that his planned "Crypto Strategic Reserve" will include bitcoin and ether and that he has directed his crypto working group to “move forward” on a reserve consisting of SOL, XRP and ADA.

However, co-founder and former CEO of BitMEX, Arthur Hayes, may not be convinced, arguing that there's "nothing new" in Trump's crypto reserve announcement.

"Nothing new here. Just words. [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," Hayes stated in an X post.

Trump's social media announcements about crypto reserves have sparked a rally in the crypto market, with Bitcoin surging over 8% and Ether up 11% in the past 24 hours. XRP rose by 31%, Solana by 20%, and Cardano by 68% at the time of writing, according to The Block's price page.

"Chill guys. No need to overanalyze," Changpeng Zhao, founder of crypto exchange Binance, wrote on X, attaching a screenshot of Trump's post. "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."