Samson Mow, CEO of JAN3 and one of the most prominent Bitcoin advocates, recently spoke out about the Trump-era proposal for a US strategic cryptocurrency reserve. He expressed concern that if the president could arbitrarily choose which cryptocurrencies to include in the reserve, it could cause market chaos and undermine financial stability.

Does Trump Have Full Power to Decide on Cryptocurrency Reserves?

Mow questioned whether Trump could actually dictate which cryptocurrencies would be included in the reserve. According to him, this cannot be a unilateral decision and requires a formal process, including reports, recommendations from working groups, and approval from Congress.

Although Trump has mentioned XRP, Solana (SOL), Cardano (ADA), and Ethereum (ETH) as potential reserve assets, Mow suspects that the announcement may be more politically motivated than a sound financial strategy. He suggests that the listing may be aimed at influencing market prices or garnering support from interest groups in the cryptocurrency space.

Risk of Market Manipulation

Mow warns that Trump's statements may benefit some traders or lobbyists. He suspects that the information could give some individuals or organizations an opportunity to sell at a high price before an official listing is announced.

He also compared the situation to Trump's promotion of the Trump memecoin before his inauguration, arguing that once Trump officially takes office, he cannot continue to promote highly speculative assets in the same way.

A Reasonable Selection Framework

Mow suggests that if the United States does build a cryptocurrency reserve, the selection criteria should be based on stability and security. He emphasizes the use of cryptocurrencies with a proof-of-work (PoW) consensus mechanism, large hashing power, and a long history.

According to Mow, in addition to Bitcoin, reasonable reserve assets could include Litecoin (LTC) and Monero (XMR). If the US government is not concerned about the factor of merged mining and hashing power, Dogecoin (DOGE) and Namecoin (NMC) could also be considered. Given Elon Musk's influence in the Trump administration, Dogecoin's inclusion on the list could be understandable.

Risk of Becoming a Speculative Instrument

Mow emphasizes that if the US cryptocurrency reserve includes too many altcoins without a solid foundation, the consequences could be very serious. He warned that this could make the market more risky, leading to a rapid downturn instead of building a stable financial system.

A sound reserve strategy, he said, should focus on protecting national assets and maintaining long-term value, rather than becoming a short-term speculative tool. Without a clear and transparent framework, cryptocurrency reserves could become a political game rather than a real financial solution.