A Proposal to Bring Together the Bitcoin and Crypto Communities
This week, President Trump announced that the Bitcoin Strategic Reserve will now be a Crypto Strategic Reserve, expanding beyond Bitcoin to include Ethereum (ETH), Ripple (XRP), Solana (SOL), and Cardano (ADA).
The announcement sparked mixed reactions. Bitcoin maximalists argue that only Bitcoin deserves a place in the reserve, while communities supporting Ethereum, Ripple, Solana, and Cardano are celebrating the recognition. Meanwhile, many are questioning why BNB Smart Chain (BNB), the fifth-largest cryptocurrency by market capitalization, was excluded.
While expanding the reserve beyond Bitcoin is a bold (and to some controversial) step, it is crucial that the White House structures this initiative with a clear framework that accounts for the distinct characteristics of these digital assets. If the goal is to position the U.S. as the global leader in crypto, the administration must take a nuanced, strategic approach.
Not All Cryptocurrencies Serve the Same Purpose
One of the most critical considerations is understanding that not all cryptocurrencies are the same. They serve different functions in the digital economy, and a one-size-fits-all approach would be misguided.
- Bitcoin (BTC) is the world’s first and most dominant cryptocurrency, widely recognized as a store of value akin to gold. Federal Reserve Chair Jerome Powell has even referred to it as “digital gold.” Its primary use case is preserving purchasing power, which is increasingly vital in a world where rising prices and currency devaluation is a persistent issue for people globally.
- Ethereum (ETH) is the second-largest cryptocurrency, but its primary function differs significantly from Bitcoin. Ethereum introduced one of the first widely adopted Turing-complete blockchains, enabling the creation of smart contracts and decentralized applications (dApps). Other blockchain networks—such as Solana, BNB Smart Chain, and Cardano—are competing in this space, each striving to become the dominant platform for developers building the next generation of financial and …
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