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JPMorgan Publishes Report on Strategic Crypto Reserve! Is XRP, SOL, ADA Reserves Possible?
According to a research report recently published by JPMorgan (JPM), the cryptocurrency market is facing ongoing skepticism about the feasibility of the United States' strategic crypto reserve.
Analysts argue that the lack of positive catalysts and the uncertainty about congressional approval could keep the market under pressure in the near term.
JPMorgan analysts led by Nikolaos Panigirtzoglou pointed out concerns not only about Congress approving such a reserve but also about the practicality of including smaller tokens beyond Bitcoin (BTC) and Ethereum (ETH). These alternative cryptocurrencies are considered highly volatile and risky, so their inclusion in a state-backed reserve is uncertain.
On Thursday, President Donald Trump directed his administration to establish a Bitcoin Strategic Reserve consisting of confiscated state assets. Trump also advocated for the stockpiling of other crypto assets, but did not specify which ones should be included despite mentioning XRP, Solana (SOL), and Cardano (ADA) at the beginning of the week.
However, JPMorgan's report notes that similar discussions at the state level have largely failed to gain traction. All states like Montana, North Dakota, South Dakota, and Wyoming have rejected proposals to include BTC in their strategic reserves, citing concerns about risk and volatility.
Due to the reluctance of central banks worldwide to hold BTC in their reserves, skepticism extends beyond the US. The Swiss National Bank (SNB) and the National Bank of Poland have rejected Bitcoin in favor of more stable assets such as gold, citing its speculative nature.