The domination of Bitcoin dropped from 55.4% to below 50% in hours after US President Donald Trump initially announced that the country would include XRP, Solan and Cardano in “Cryptographic Strategic Reserve”.
Later, Trump confirmed that Bitcoin (BTC) – and also Ether (ETH) – would be “in the heart of the reserve” – although its inclusion of Altcoins left a sour taste in the mouth of several bitcoiners – and even a Bitcoin critic.
The domination of Bitcoin dropped to 49.6%, because such as Cardano (ADA) and XRP (XRP) have increased by 60.3% and 34.7% respectively in the last 24 hours.
Solana (SOL) and Ether also increased by 25.5% and 13.1% at the same time, while other altcoins that were not clearly listed in Trump’s post. Bitcoin increased only by 10% to 94,220 USD.
Percentage of Bitcoin domination compared to other high -value cryptocurrencies. Source: What a ring
He surprised some Trump administration reserves so as not to implement the reserve, only Bitcoin in thisCritic G Bitcoin Peter Schiff, who did not see the logic of inclusion of Altcoins.
“I am justifying the Bitcoin reserve,” wrote Schiff. “I disagree with that, but I understand. We have a gold reserve. Bitcoin is digital gold, which is better than analog gold. Let’s also create a Bitcoin reserve. “
“But what is the justification of the XRP reserve? Why should we need it? “
Source: Peter Schiff
Meanwhile, the head of the Alfa BitWise strategy, Jeff Park, he said It was “a huge incorrect political calculation by Trump in underestimating how key it is for the strategic reserve of focusing exclusively on bitcoins.”
“The only cryptocurrency resource that has any logical meaning under the country’s strategic reserve is Bitcoin,”, general director of Bitcoin Custody Solution Casa, Nick Neuman he said.
“Infinite digital resources – especially with zero usability – do not match the bill.”
Others, such as Pierre Rochard, Vice President of Research at Bitcoin Mining Mining Riot Platforms, he said The cryptographic strategic reserve “naturally will become only Bitcoin” because the Altcoins trend is zero compared to Bitcoin.
Related: Bitcoin is not a worthy reserve resource, the president of the Swiss National Bank says: Report
The cryptographic strategic reserve appears in weeks of rating from the newly created President’s working group for digital assets, led by the executive director of Hines and David Sacks, AI and Crypto Czar in the White House.
Trump will be the host of the first Summit of the White House on March 7, encouraging industry leaders to discuss regulatory policies and Stablecoin supervision, which is chaired by Hines.
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