Crypto Voices on X: Reactions to the US Bitcoin Reserve and Crypto Summit

Yes, it’s a Bitcoin reserve, not a crypto reserve, despite earlier discussions about including altcoins like ADA, SOL, XRP, and Ether. 

Sneak Peek on What’s Going on 

Based on the Executive Order, there will be a Bitcoin Strategic Reserve and a Digital Asset Stockpile consisting of digital assets other than Bitcoin.

Notably, both the Bitcoin Reserve and crypto stockpile will consist of assets forfeited by the Department of Treasury during criminal or civil asset forfeiture proceedings. The government has stated that no additional altcoins will be required for the stockpile, and Bitcoin will only be acquired if budget-neutral strategies are developed.

The market didn’t react to the news, seeing a decline in the last 24 hours.

What caused the dip, and will the upcoming crypto summit change the direction? Here are three popular discussions on X/Twitter. 

1. Eleanor Torrett Explains the Difference Between the Reserve and Stockpile

Journalist and news analyst Eleanor Torret breaks down what Trump’s executive order means and clarifies the difference between the Bitcoin Strategic Reserve and the Digital Assets Stockpile. Torrett explains:

The key difference between the reserve and the stockpile is that the government will not actively look for ways to purchase more of the assets contained in the stockpile. It will only explore using government funds (if they can find budget-neutral ways to do that) on buying BTC.

As of now, the reserve holds around 200,000 Bitcoins that were seized by the government through criminal and civil forfeiture over the years.

However, a full audit will be conducted to accurately estimate the total number of government-owned cryptocurrencies.

Torrett also speculates that XRP, ADA, ETH, and SOL could be included in the stockpile, as President Trump previously mentioned these assets in his post on Truth Social.

Eleanor Torrett has more than 200,000 followers on X. Torrett, known for her accurate analysis, recently earned praise from Crypto Czar David Sacks for sharing the correct Digital Asset Summit attendee list amid fake ones on X.

2. Charles Hoskinson Wasn’t Invited to the Crypto Summit 

Cardano founder Charles Hoskinson recently stated on an X livestream that neither he nor anyone from the IOHK team has been invited to Donald Trump’s closed-door crypto summit.

Many in the Cardano and broader crypto community had expected Hoskinson to be included, considering his role as one of the earliest crypto founders. Before launching Cardano, he co-founded Ethereum with Vitalik Buterin, Gavin Wood, and Joseph Lubin.

Hoskinson speculated that the president might be speaking during the 4-hour gathering, with limited policy work taking place.

Among the confirmed attendees are Ethereum’s Vitalik Buterin, MicroStrategy’s Michael Saylor, Coinbase’s Brian Armstrong, Ripple’s Brad Garlinghouse, MARA Holding’s Fred Thiel, and others.

3. Crypto Kaleo Reflects on the Bitcoin Strategic Reserve Order 

“Be more bullish”, says Kaleo (@CryptoKaleo), referring to the Bitcoin price decline after Donald Trump’s executive order. He says, looking at the market selloff, someone would think Trump signed an order to ban Bitcoin. 

Kaleo pointed out that as powerful a country as the US, which is also one of the largest Bitcoin holders, not selling but establishing a strategic Bitcoin reserve is bullish. 

His post got mixed reactions, though. @BleevesCrypto finds that establishing a reserve with only already seized coins and not buying new coins isn’t bullish at all.