After the announcement made by President Donald Trump about the creation of a reserve that would include several cryptocurrencies, some financial entities have made their pronouncements.
One of them is Citibank, one of the most important banks in the United States. In a report that was released this March 3, the financial entity made public its position on the subject.
They consider that, after the message published by the president, The probabilities are very high that the cryptocurrency reserve in the United States is established, but they have doubts about the selection of cryptocurrencies indicated by the president.
In that sense, they indicate that the criteria of the selection They are not clear yet. So they cannot talk about what led Trump to include cryptocurrencies such as XRP of Ripple, Ada de Cardano and Sol de Solana, in addition to the two most important currencies on the market. Bitcoin (BTC) and Ether (ETH).
The bank believes that more clarity is needed on the selection of cryptoactives that will be part of the reserve, so that the initiative obtains greater support.
They also think that announcing an investment list It can affect negatively The prices of cryptocurrencies involved. Something similar to what happened to the United Kingdom government with gold at the end of the 90s, when the sales of its reserves of this precious metal caused the fall of its price.
In addition, considering that the vast majority of government holdings come from seizures, Citibank thinks that any accumulation of other digital assets will require that purchases are made in the open market.
Consequently, they are not clear how the Government would obtain funds to acquire all those assets, as they limit. A question that the Bernstein brokerage firm has also expressed.
In a report published last week, Berstein indicated that the issue of strategic reserve raises a series of structural issues, such as the following:
Will Bitcoin buy the United States Federal Reserve or the Treasury? If the Federal Reserve does, that would require legislative approval. How would Cryptocurrencies finance the Federal Reserve? «.
Bernstein in your report.
In this regard, Bernstein believes that to solve the doubt of how the creation of a national cryptocurrency treasure will be financed, the Federal Reserve could issue debt or Sell part of your gold reservesas Cryptonoticia reported.
It is an open possibility, taking into account that the USD Bitcoin holdings add up to USD 19,000 million; and those of Gold exceed USD 750,000 million.
As Cryptonoticias has reported, the bill presented last year by Senator Cynthia Lummis, proposes to use The cryptocurrencies seized as the basis of the reserve; He also proposes that cryptoactive buy for a period of five years. Although the proposal Just talk about Bitcoin.
Everything indicates that the idea of adding Altcoins seems to come from Trump himself and his closest circle.
In any case, as established by the Executive Order signed by the President last January, the Cryptocurrency Advisory Group of the White House is the one that has the work of evaluating the way in which reservation and reserve will be carried out and The cryptocurrencies that will make up The United States investment portfolio.