Donald Trump has once again drawn attention to the crypto market by issuing an order to create strategic reserves of digital currencies for America. However, market analysts believe that implementing this plan for Bitcoin (BTC) and altcoins like Ethereum (ETH), Solana (SOL), Ripple (XRP), and Cardano (ADA) requires overcoming legal hurdles and structural complexities. Ali Martinez, a well-known analyst, stated that even with executive orders from Trump, realizing this idea without approval of relevant laws by Congress will be impossible. He explained that necessary steps for implementing this plan include drafting and passing laws, selecting digital currencies, allocating financial resources, and regulating regulations by entities such as the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC). According to Martinez, these processes could take months or even years, and if Congress opposes, the project will be at a standstill. Arthur Hayes, former CEO of BitMEX, is also pessimistic about this plan, considering it more of a publicity stunt than an operational program. He emphasized that without a specific budget allocation, the government cannot add Bitcoin or other digital currencies to its reserves. Nevertheless, announcing this plan has fueled debates among Bitcoin and Ripple supporters. David Sachs, a prominent crypto expert, mentioned that efforts to turn America into the ‘global crypto capital’ are ongoing, and such initiatives can be a significant step in this direction. However, Trump is expected to attend the first White House crypto summit at the end of this week and speak about sustainable growth and acceptance of digital assets in the American economy. This meeting can play a crucial role in determining the government’s future policies towards the crypto market.
