$XRP, $SOL Pump Amid Report Trump Open To Strategic Reserve Around US-Based Altcoins

Major altcoins XRP and Solana (SOL) pumped Thursday night after a report indicated that incoming President Donald Trump is "receptive" to the idea of a digital asset strategic reserve that prioritizes cryptocurrencies launched by companies founded in the United States.

XRP, the native cryptocurrency of the XRP Ledger, whose development is backed by San Francisco-based fintech firm Ripple, climbed over 7% Thursday night, at one point trading at $3.38, just two cents short of its all-time high of $3.40 that was logged in January 2018.

SOL was also up in the day, increasing by over 4% and at one point traded at $216, seemingly affected by the positive report even as the Trump administration has yet to confirm the news.

An 'America-First' Crypto Strategic Reserve, But Not Without Pushback

While many in the cryptocurrency space have been clamoring for a digital assets strategic reserve, it's the first time a report emerged about what could be an "America-first" crypto reserve.

The idea has reportedly caused issues among some industry leaders who believe a U.S.-first reserve would "delegitimize" efforts in the community to promote Bitcoin, the world's largest cryptocurrency by market cap.

Notably, Bitcoin's creator has yet to be officially revealed, so it is difficult to

Trump is said to have recently met with the founders of Solana, XRP, and the USDC stablecoin. This report is supported by recent a photo posted by Ripple CEO Brad Garlinghouse wherein he revealed that he had dinner with Trump and Ripple Chief Legal Officer Stuart Alderoty.

The founders of the Solana network and Circle, which is behind the USDC stablecoin, have yet to confirm the news.

Still, a digital asset reserve prioritizing American-founded altcoins is big for the altcoin community, especially as many of the communities around these coins have been reiterating the utility of the digital currencies and their potential to challenge Bitcoin's dominance.

Chances for a $BTC Reserve Climb on Polymarket

Despite news that Trump may be weighing an American-centric crypto reserve, it appears Bitcoiners and crypto users on decentralized market prediction platform Polymarket believe there's still a chance Trump will establish a BTC strategic reserve.

Following a plunge to as low as 22% earlier this month, odds for a Trump Bitcoin reserve in the first 100 days of the second Trump presidency have climbed to 47% as of late Thursday. The event contract is now a $2.06 million bet.

It remains to be seen whether Trump will keep his promise of making crypto great again in the U.S., but based on his recent activity around the sector, it appears he is invested in supporting industry growth.