Crypto Executives Seek Clarity Amid Trump's Reserve Order, Bitcoin Dominance Looms

Executives in the cryptocurrency industry have expressed a strong preference for regulatory clarity over the establishment of a national Bitcoin reserve. The recent executive order by President Donald Trump to create a US strategic Bitcoin reserve and a separate digital asset stockpile for altcoins has not met their expectations. Instead, they are eagerly awaiting detailed guidance from the White House on critical issues such as securities regulation and taxation.

Max Giammario, CEO of Web3 artificial intelligence startup Kindred, emphasized the need for a clear roadmap for innovation and guidelines on stablecoins, institutional adoption, and taxation. He noted that the current lack of immediate action and vague rhetoric has only deepened the uncertainty in the market. The executive order, signed on March 6, did not instruct the US government to purchase crypto but rather to consolidate digital assets seized by law enforcement, which left traders disappointed.

Despite the initial disappointment, industry executives remain optimistic about the future of US crypto policy under Trump. They cite his pro-crypto rhetoric and the appointment of industry-friendly leaders to key regulatory positions as reasons for hope. Theodore Agranat, director of Web3 at Gunzilla Games, suggested that ongoing and positive initiatives for crypto are likely, given the current leadership in crucial positions.

However, the lack of clear policy guidance could lead to further losses in the crypto market. Alvin Kan, chief operating officer of Bitget Wallet, pointed out that if the Trump administration provides clearer regulations on stablecoins, ETFs, and institutional adoption, altcoins could regain momentum. Otherwise, Bitcoin's dominance may continue as it remains the primary macro asset.

The establishment of a US crypto reserve signals a global shift in how digital currencies are perceived by governments. The move is seen as a hedge against inflation and market turbulence, but its impact on the market remains to be seen. The Biden administration's plan to utilize seized assets for the reserve, rather than market purchases, has challenged the narrative of Bitcoin's rapid growth.