Crypto Summit Sparks Debate Over U.S. Strategic Reserve Composition

The upcoming White House Crypto Summit has reignited debate over President Trump's proposed U.S. strategic cryptocurrency reserve, particularly its inclusion of Bitcoin and various altcoins. Following an initial omission of Bitcoin and Ethereum in Trump's announcement, he later clarified that they would be central to the reserve, prompting criticism from economist Peter Schiff, who questioned the rationale for including altcoins like XRP and Cardano. Schiff argues that while he sees the case for a Bitcoin reserve, he believes a mixed reserve dilutes its value and could lead to market instability. Proponents of altcoins defended their inclusion, citing their technological merits and community support. The discourse reflects a broader tension in the crypto community regarding government intervention and the risks of market manipulation. Overall, as discussions unfold, the composition of the reserve remains a divisive issue among industry leaders.