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Bernstein: It's unclear whether the concept of cryptocurrency reserves can be implemented solely through Trump's executive order

Bernstein: It's unclear whether the concept of cryptocurrency reserves can be implemented solely through Trump's executive order

Bitget2025/03/04 02:26

Bernstein's analysts are puzzled by US President Donald Trump's announcement to include XRP, SOL, ADA, ETH and BTC in the national cryptocurrency reserve. They wrote in a Monday report that if it involves the Federal Reserve, this move could be difficult to implement.

Analysts Gautam Chhugani, Mahika Sapra and Sanskar Chindalia wrote in their report: "It is expected that Bitcoin will serve as 'digital gold' for the U.S. government." "Ethereum and Solana are currently the most commonly used blockchain networks; holding their native assets can help industry growth - but it is not clear why sovereign nations would include them in reserves," they pointed out. Bernstein analysts added that it remains unclear whether this idea of a cryptocurrency reserve can be implemented simply by executive order. Convincing other members of the U.S. government to hold altcoins like Solana and Ethereum could be very difficult.

Their report states: "We believe that a realistic path might be for the U.S. government to convince Congress that Bitcoin is new digital gold/global value storage means; re-evaluating/reallocating gold reserves would make sense." However, they think using Federal Reserve funds or Treasury Department funds to purchase other blockchain assets would be a hard sell.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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