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U.S. GOVERNMENT CONFIRMS IT WON’T BUY XRP, ETHEREUM, OR SOLANA – BITCOIN TAKES PRIORITY!
▪The U.S. government’s Strategic Bitcoin Reserve (SBR) will exclusively hold seized Bitcoin, solidifying its primary status.
▪Other seized cryptocurrencies (ETH, XRP, ADA, SOL) will be placed in a separate “Digital Asset Stockpile”.
▪The government’s crypto holdings are primarily derived from seizures, with Bitcoin prioritized and altcoins managed differently.
Peter Schiff has confirmed that the U.S. government will not be purchasing Ethereum (ETH), XRP, Cardano (ADA), or Solana (SOL) for its crypto holdings. Instead, the newly established Strategic Bitcoin Reserve (SBR) will hold only seized Bitcoin (BTC), reinforcing its position as the dominant digital asset. While the executive order signed today allows room for potential Bitcoin purchases, these would likely require approval from Congress.
No Crypto Reserve for Altcoins
Earlier reports had suggested that a government-backed crypto reserve might include XRP, ADA, SOL, and ETH, leading to a surge in their prices. However, the latest update clarifies that the U.S. government has created a separate Digital Asset Stockpile for these altcoins, but it will not be making any additional purchases. This stockpile will only contain assets seized through legal actions and will be managed by the Treasury.
Depending on regulations, these tokens may either be held or sold, but the government will not actively add to them.
Bitcoin Gets a Dedicated Strategic Reserve
Bitcoin, in contrast, will have its own Strategic Bitcoin Reserve (SBR), further reinforcing its importance in government holdings. An audit set to take place within 30 days will disclose the total amount of cryptocurrency the government owns and how these assets will be categorized. The move highlights Bitcoin’s priority over other digital assets.
No New Acquisitions!
Schiff clarified that the government will not be buying additional cryptocurrencies. Any XRP, ADA, SOL, or ETH in the Digital Asset Stockpile will come solely from past forfeitures. This means no new assets will be added unless they are seized in future legal cases.
Meanwhile, blockchain data from Arkham Intelligence confirms that the U.S. government currently owns zero XRP, SOL, or ADA. This contradicts earlier speculation that a broader crypto reserve was being established.
However, some analysts, including Moon Lambo, believe the government might hold small amounts of these assets from lesser-known seizures, but if so, the holdings are likely insignificant.
What Does the Government Currently Hold?
Right now, the U.S. government holds around 200,000 BTC, obtained through various legal seizures. While Bitcoin remains the primary focus, the government also has approximately $176 million worth of ETH and $27 million worth of BNB. However, no XRP, ADA, or SOL have been confiscated, raising questions about why they were included in the stockpile designation.
So, Where Does This Leave Bitcoin?
The crypto community, particularly Bitcoin supporters, has welcomed the government’s decision, as it further separates BTC from other cryptocurrencies. This move strengthens Bitcoin’s reputation as “digital gold” and solidifies its role as a strategic asset. However, investors who had speculated that major altcoins would be included have been left disappointed.
The government’s stance on cryptocurrency is still a major topic of interest. The market will be watching closely to see if Bitcoin purchases receive approval and how the Digital Asset Stockpile will be handled.
While Bitcoin’s dominance in government holdings is clear, the future of seized altcoins remains uncertain.
@ Newshounds News™
Source: Coinpedia , Twitter
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DAVID SACKS EXPLAINS WHY TRUMP MENTIONED XRP, SOL, ADA: ‘PEOPLE ARE READING INTO THIS A LITTLE BIT TOO MUCH’
▪David Sacks downplayed speculation, stating that President Trump simply named the top five cryptocurrencies by market cap, causing major price spikes before a pullback.
▪An executive order mandates an audit of federal digital asset reserves while also opening the door to staking and portfolio management strategies.
White House AI and Crypto Czar David Sacks shed light on why President Donald Trump included XRP, Solana and Cardano in his posted comments about a U.S. crypto strategic reserve last Sunday.
Many in the industry questioned the inclusion of these particular altcoins, arguing that they lack the developer activity and decentralization seen in Bitcoin and Ethereum. Sacks’ comments came after Thursday night’s executive order establishing a Strategic Bitcoin Reserve.
“Well, the president just mentioned the top five cryptocurrencies by market cap, so I think people are reading into this a little bit too much,” Sacks said Friday on Bloomberg TV. “He just mentioned the top five.”
Just mentioning those coins caused spikes nearing 70% last weekend before a pullback. Sacks said Friday that “we’re not sure” whether the federal government owns any of those alternative cryptocurrencies, doubling down on the executive order’s call for a full audit of its current reserves.
“In terms of what we’ll actually have, we have to do the accounting,” Sacks said. “We know it owns Bitcoin. I believe it owns some Ethereum. I’m not sure about the other ones. No one’s been able to give us a straight answer yet.“
The executive order directs a full accounting of the federal government’s digital asset holdings. The U.S. government possesses 198,109 BTC, worth about $17 billion at the current market price, according to the website Bitcoin Treasuries.
The order also establishes a U.S. Digital Asset Stockpile, consisting of assets other than bitcoin forfeited in criminal or civil proceedings. The government will not acquire additional assets for the stockpile beyond those obtained through forfeiture proceedings.
Sacks also said the federal government could explore lending or staking on the cryptocurrencies it owns.
“The idea of this executive order is to create the mandate,” Sacks said Friday. “We’re going to do the audit, then we’re going to move them into a separate account for safekeeping. And then the secretary of treasury and his team will be able to exercise portfolio management and long-term or responsible stewardship. And yes, that could include staking, it could include rebalancing [and] it could include sales. These are all options they can pursue if the secretary of treasury believes these are in the long-term interest of the American people.“
Several leading crypto executives are set to attend a crypto summit hosted by President Trump in Washington, D.C. on Friday afternoon.
The prices of both XRP and ADA are down about 7% over the past 24 hours, according to The Block’s crypto price data. SOL is holding up relatively well, down about 1.3%. Bitcoin and ether are down 2% and 2.7%, respectively, over the same timeframe.
@ Newshounds News™
Source: The Block
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MORE COUNTRIES READY TO JOIN BRICS ALLIANCE
India’s Foreign Minister S. Jaishankar revealed that the number of countries ready to join the BRICS alliance is growing. Speaking at a session titled ‘India’s Rise and Role in the World’ in London, Jaishankar confirmed that the bloc is encouraging developing countries to break the norm and enter a new financial territory without having to depend on the US dollar for survival.
The BRICS alliance is spearheading the de-dollarization agenda in a goal of making local currencies the world’s reserve status. The move could realign the global financial sector tilting the power from the West to the East.
Number of Countries Wanting to Join BRICS Alliance Increasing
Jaishankar emphasized that the BRICS alliance is “a very diverse group” and emerging economies find the bloc to be attractive. The unity in diversity is what’s pulling other countries towards it in a common agenda of de-dollarization. “I think clearly they must be doing something right. If so many countries want to join BRICS and so many countries actually have joined,” he said.
“South Africa joined, then it has become a double-digit membership. And in 2024, last year in Kazan, we also added dialogue partners, the concept of dialogue partners,” Jaishankar said. He explained that countries even without geographical closeness want to join the BRICS alliance.
“We are an exception to the normal rules on which groups are formed. Normally countries who approximate geographically to each other or have some particular shared history or some kind of ethnic or linguistic commonality, this is normally the basis to create a group. Now, BRICS alliance defies all those assumptions. So it’s not like the Commonwealth, it’s not like the NATO, it’s not like the G7. It’s not like anything which had been conceptualized early,” he said.
@ Newshounds News™
Source: Watcher Guru
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