Veteran trader Peter Brandt slams Trump's crypto reserve plan, citing a credibility loss for including altcoins like ETH, XRP, SOL, and ADA.

Veteran trader Peter Brandt, who has over five decades of market experience, has criticized President Donald Trump's announcement of a U.S. crypto strategic reserve, which will include digital assets such as ethereum (ETH), XRP, solana (SOL), and cardano (ADA) in addition to bitcoin (BTC).

Veteran trader Peter Brandt has slammed former President Donald Trump’s plan for a U.S. crypto strategic reserve, asserting that Trump has lost credibility by including altcoins like ethereum (ETH), XRP, solana (SOL), and cardano (ADA).

Brandt, known for his strong Bitcoin (BTC) trader and maximalist stance, shared his disapproval on social media platform X on March 4.

He said:

By adding any other cryptos other than bitcoin to a reserve, Trump just lost 30% of his credibility with me. He lost 10% with the Trump Coin and 10% with Trump watch.

In a follow-up X post, he opined: “What a huge defeat for Trump’s credibility with true crypto fans.”

Trump’s initiative, which began with a focus on a U.S. bitcoin strategic reserve, broadened to include multiple altcoins. The administration is framing this as a step toward U.S. financial innovation and an inflation hedge. However, details on the reserve’s operation remain sparse, leaving questions about its broader financial role.

The move highlights the increasing presence of cryptocurrencies in government policy discussions.

Another X post saw Brandt double down on his stance against the inclusion of XRP and other altcoins.

He said:

I could not be more serious about this. That Trump suggests that ETH and XRP should be part of a reserve has GREATLY destroyed his credibility with me. This shows a man with little to no discernment.

The crypto community is divided over Trump’s decision to recognize multiple digital assets. Supporters view it as a positive step, while bitcoin maximalists warn that including altcoins will add risk and volatility.

Economist Peter Schiff questioned the need for a U.S. XRP reserve, while Coinbase (NASDAQ:COIN) CEO Brian Armstrong favored a bitcoin-only approach but suggested a crypto index for diversification. Michael Saylor saw it as a win for the industry, predicting bitcoin’s market cap could rise from $2 trillion to $200 trillion as global capital flows in.

However, Ripple CEO Brad Garlinghouse saw the move as a turning point for XRP, stating that it legitimizes the asset and slams past U.S. Securities and Exchange Commission actions.