How will Trump's decision on XRP, Cardano, and Solana affect Bitcoin and the United States?

While U.S. President Donald Trump has become one of the most influential factors in the cryptocurrency market, the announcement of his cryptocurrency holdings on Sunday, including XRP, Cardano, and Solana, has become one of the most discussed topics. While Trump's addition of Bitcoin (BTC) and Ethereum (ETH) to the reserves, XRP, ADA, and SOL has provoked reactions from industry leaders, partner Nic Carter of Castle Island Ventures declared that Trump's cryptocurrency reserve plan contains eight risks and listed these risks. Nic Carter believes that Trump's proposal on cryptocurrency reserves could harm both Bitcoin and the US government, arguing that the proposal to reserve five types of cryptocurrencies weakens the value of Bitcoin and serves personal interests.

1. Risk of cancellation of reserve plan: Without the approval of the National Assembly, future governments may easily reverse policies and disrupt the market.
2. The instability of the dollar market: Linking cryptocurrencies to the US reserve could shake confidence in the dollar market and treasury bonds.
3. Limited demand for Bitcoin exposure: The United States has benefited from more BTC than other countries through tax advantages for investors. In addition, American funds and individuals hold more Bitcoin than citizens of other countries.
4. There is no case of using the strategy: Unlike oil or rare minerals, cryptocurrency reserves do not serve a core function for national security or economic stability.
5. The depreciation of BTC: Mixing Bitcoin with rival cryptocurrencies such as Ethereum, Cardano, Solana, and XRP and granting them equal government approval will devalue Bitcoin and make it appear no different from those assets. BTC undermines its unique decentralization.
6. Bitcoin does not need government: BTC has become a trillion-dollar asset without the need for government intervention; government support could politicize it.
7. Public backlash: With only 5-20% of Americans owning $BTC, investing tax money into a cryptocurrency reserve could lead to unwarranted public backlash.
8. Conflict of interest may increase: Trump and his allies hold various types of cryptocurrencies. "There is growing concern that the Reserve is using government resources to increase the value of the currency that Trump and many of his close associates hold." Nic Carter recently warned that Trump's diversified cryptocurrency reserve plan in the United States could backfire, weakening the independence of BTC and leading to political instability.