President-elect Donald Trump Is Warming Up to the Idea of Establishing an “America-first Strategic Reserve” That Would Focus on Digital Assets Made in the US

President-elect Donald Trump is warming up to the idea of establishing an “America-first strategic reserve” that would focus on digital assets made in the US like Ripple, Solana, and USD Coin, the New York Post reported Thursday, citing sources with knowledge of the matter.

Key Takeaways:

President-elect Donald Trump is reportedly considering an “America-first strategic reserve” that would prioritize digital assets made in the US, such as Ripple, Solana and USD Coin, according to the New York Post.

The initiative has sparked concerns that it could weaken Bitcoin's market lead, but there is optimism that these developments will benefit the crypto industry overall.

The creation of a national Bitcoin stockpile remains one of Trump's major crypto promises, and anticipation of this move has led several public companies to add Bitcoin to their reserves.

At the state level, Oklahoma Rep. Cody Maynard has introduced the Strategic Bitcoin Reserve Act, which would allow the State Treasurer to invest public funds in crypto assets like bitcoin and stablecoins.

This effort is part of a broader push to establish strategic crypto reserves in several US states, including Texas, Pennsylvania and Ohio.

If Trump were to establish a strategic Bitcoin reserve, it could also prompt Japan and other Asian nations to follow suit, according to Metaplanet CEO Simon Gerovich.

The incoming Trump administration also plans to issue crypto-focused executive orders, the Washington Post reported on Monday.

These orders could cover topics like setting up a Bitcoin reserve and putting an end to debanking practices, which have come to be known as “Operation Choke Point 2.0.”

However, the establishment of a strategic Bitcoin reserve via an executive order may not be as permanent as some would like, as a future administration could easily revoke such directives, according to a recent report by New York Digital Investment Group (NYDIG).