President Trump’s plan for a strategic crypto reserve has stirred mixed feelings within the cryptocurrency industry.

The digital assets space has largely welcomed Trump’s mission to boost the industry, which faced heavy regulatory scrutiny under the Biden administration.

But his recent announcement to form a cryptocurrency reserve with assets other than bitcoin — the most valuable cryptocurrency — surprised even those who could benefit from the plan.

Anthony Pompliano, founder and CEO of investment firm Professional Capital Management, called the suggested plan an “unforced error that will be regretted in the future.”

Pompliano noted in a lengthy blog post that his criticism comes even as “someone who stands to substantially benefit financially” from Trump’s announcement.

Trump on Sunday offered new details about a crypto reserve, writing online that it will “elevate this industry after years of corrupt attacks by the Biden administration.”

“Which is why my Executive Order on Digital Assets directed the Presidential Working Group to move forward on a Crypto Strategic Reserve that includes XRP, SOL [Solana] and ADA [Cardano]," Trump wrote on Truth Social.

Online users were quick to point out his post made no mention of bitcoin, despite a pledge he made last July to create a strategic bitcoin reserve.

The president clarified a few minutes later and wrote, “And, obviously BTC [bitcoin] and ETH [Ethereum], as other valuable cryptocurrencies, will be at the heart of the Reserve.”

“I also love Bitcoin and Ethereum!” Trump added.

Trump did not explain how the reserve would work, though crypto experts told The Hill it could happen either by using assets seized by federal........

© The Hill