A strategic bitcoin reserve has been a large part of the crypto discussion ahead of Donald Trump’s inauguration, but does the incoming 47th president have other tokens on his mind?
Solana’s SOL, XRP and Hedera’s HBAR are among the altcoins outperforming on Thursday, in part thanks to a NYPost report that Trump was “receptive” to the idea of creating an “America-first strategic reserve” of tokens including SOL, XRP and Circle’s USDC stablecoin.
SOL jumped over 8% to $217 following the report, while XRP continued this week’s advance to hit $3.35, just shy of its 2018 record price, per data source CoinGecko. HBAR, the native token of the Hedera Hashgraph network founded by the pseudonymous Texas-based firm, wasn’t mentioned in the story, but rallied more than 10% to its strongest price since early December.
That’s led the CoinDesk 20 Index to a 5% gain over the past 24 hours, sharply outperforming bitcoin’s 0.5% rise to just shy of $100,000.
Anticipation among crypto investors is building for Trump’s inauguration next week, and the potential announcement of first-day executive orders focusing on the digital asset industry. Trump promised during the campaign to position the U.S. as a leader in the crypto space including creating a national stockpile of bitcoin. Senator Cynthia Lummis also introduced the BITCOIN Act in July proposing to acquire the 5% of bitcoin’s supply, while some U.S. states are also exploring or have put forward legislation to create a reserve for the asset.
