Bitwise’s Matt Hougan: Trump’s Crypto Reserve Will Be “Nearly Entirely Bitcoin”

Hougan noted in a March 5 statement that the market reacted negatively to President Trump's announcement because it included a mix of large and small cryptocurrencies.

President Trump’s policies often shift over time, and Hougan pointed out that the current reserve plan may not be final. He suggested that the upcoming White House crypto summit could influence its structure as major industry figures provide input.

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If the US moves forward with its crypto reserve, it could encourage other nations to start holding Bitcoin as well, Hougan added. He also expects that once the government acquires crypto, it will hold onto it long-term, similar to how it manages gold reserves.

On March 2, President Trump initially stated that the reserve would include Solana SOL $139.36 , XRP XRP $2.04 , and Cardano ADA $0.4261 , later clarifying that Bitcoin and Ethereum ETH $3,256.41 would be at its core. However, Hougan expects that once everything is finalized, Bitcoin will dominate the holdings. He stated:

After the dust settles, I suspect the final reserve will be nearly entirely Bitcoin, and it will be larger than people think.

Hougan also questioned why certain altcoins were included, suggesting that adding assets like Cardano "feels more calculating than strategic". However, despite what he called a “flawed rollout,” Hougan believes the market is misreading the situation. He noted:

In the end, this is bullish.

Meanwhile, El Salvador’s President, Nayib Bukele, recently dismissed IMF demands to stop buying Bitcoin. What did he say? Read the full story.