Recent analysis from Bernstein has highlighted potential challenges arising from U.S. President Donald Trump’s proposal to include a selection of cryptocurrencies, namely XRP, SOL, ADA, ETH, and BTC, in the national cryptocurrency reserve. This initiative raises questions regarding its feasibility, particularly if the Federal Reserve is involved. Analysts Gautam Chhugani, Mahika Sapra, and Sanskar Chindalia emphasized that, while Bitcoin is being positioned as the U.S. government’s “digital gold,” the rationale behind incorporating other cryptocurrencies into reserves remains ambiguous.
The report further notes that both Ethereum and Solana are leading blockchain networks, known for fostering significant industry growth through their native tokens. However, the challenge lies in persuading lawmakers to include altcoins in national reserves, suggesting that amendments to existing legislation may be necessary. Bernstein’s conclusion points to the possibility of advocating for Bitcoin as a primary digital asset, asserting a case for its recognition as a global store of value. Nonetheless, the analysts stress that deploying Federal Reserve or Treasury funds to acquire these assets could face substantial hurdles.