Trump's pro-crypto measures are welcome, but not enough

U.S. President Donald Trump announced that his administration will create a strategic reserve of cryptocurrencies for his country, which will include Cardano, Solana, Ripple, Ethereum and Bitcoin.

Through a post on Truth Social, the Republican leader reported that "a US Crypto Reserve will elevate this critical industry after years of corrupt attacks by the Biden Administration, which is why my Executive Order on Digital Assets directed the Presidential Task Force to move forward on a Strategic Crypto Reserve that includes XRP, SOL and ADA. I will ensure that the U.S. is the crypto capital of the world." In a second post, Trump detailed, "And obviously BTC and ETH, like other valuable cryptocurrencies, will be at the heart of the Reserve. I love Bitcoin and Ethereum too!"

After Trump's announcement, as expected, the cryptocurrency market experienced a sharp rise.

The fact that a government like the U.S. is friendly to cryptocurrencies is undoubtedly good news. This technology is here to stay and it is positive that state authorities in any country understand this. And Trump understands that fighting it is harmful and his nation can benefit immensely from it.

In this sense, it is worth adding the statements for VOZ made by Marcelo Fleischer, creator of ElBitcoin.org, the world's first Spanish-language cryptocurrency disclosure site, and co-host of "No Free Lunch," who argued that the positive thing about the matter is that "we are in a new stage," since the governments of the world realized that cryptocurrencies are impossible to eliminate.

Having clarified this point, it is necessary to remember that Bitcoin was created by the unknown Satoshi Nakamoto with the purpose of being used to carry out transactions from person-to-person without intermediaries and with a limited and absolutely decentralized issuance.

The marginalization of the main use of cryptocurrencies

In this regard, Fleischer indicated that "the ruling elites managed to marginalize the main use, i.e. as a direct means of exchange; without going through intermediaries or custodians."

The expert warned that, realizing that they cannot eliminate cryptocurrency, states are trying to "profit" from them and try to "guide people to invest in what suits them."

Regarding Trump's crypto reserve, Fleischer assured that there is "a benefit for a small circle" as decisions are made absolutely centrally.

"It is not a step forward, but it shows that now the battle is not against crypto, but against people who want to use them outside the state monetary system," he added.

This latest decision by Trump, like all measures taken in favor of cryptocurrencies, are welcome, of course. However, as the industry massifies, dangers also arise and scammers are the order of the day, so it is necessary to be vigilant, investigate the fundamentals of each cryptocurrency in which one seeks to invest and not forget the purpose for which they were created, ergo, to compete with state money and not to leverage it, and, of course, not to be used as if it were a casino.

'The best crypto assets are those that serve people to operate outside the officially blessed system'

As for the cryptocurrencies mentioned by Trump to be part of the reserve, Fleischer argued that some of them are not to be trusted. The expert indicated that, for example, Ripple (XRP) is a "completely centralized crypto asset that is issued with total discretion." And he added that it is surely there because of the political connections that those behind it have.

Fleischer also voiced criticism of cryptocurrencies that are part of Trump's reserve. "The best crypto assets are those that serve people to operate outside the officially blessed system. That was the original purpose," he sentenced.

Regarding the influence of government decisions or statements by important personalities on the price of cryptocurrency, Fleischer maintained that for the moment it is "inevitable," although he clarified that if "direct use becomes massive, this will no longer have so much influence because you will have a much deeper market, and therefore more difficult to move."

However, the specialist highlighted that Trump's measure may serve to urge many people to research cryptocurrency.