The cryptocurrency sector is in turmoil after a dramatic week. That, of course, is nothing new for crypto — but what is new is the reason for the turmoil: ongoing action from the seat of power in Washington, D.C.
On Sunday (March 2), President Donald Trump gave the digital asset sector more news to look forward to, after a monthlong market sell-off that saw bitcoin drop nearly 20% from its post-election record high, by announcing not just the creation of a U.S. strategic cryptocurrency reserve but also the digital assets it could be composed of: bitcoin, ethereum, XRP, Solana’s SOL coin and Cardano’s ADA.
The news was met with mixed reactions from the crypto space.
“I have nothing against XRP, SOL, or ADA but I do not think they are suitable for a Strategic Reserve. Only one digital asset in the world right now meets the bar and that digital asset is bitcoin,” tweeted crypto billionaire and Trump supporter…
