- Mark Yusko claims Trump and Eric Trump are heavily investing in cryptocurrencies, including Bitcoin, XRP, and Hedera, potentially shaping U.S. crypto policies.
- Speculations rise about Trump classifying XRP and HBAR as national assets, while Charles Hoskinson dismisses these claims as misinformation.
Mark Yusko, founder of Morgan Creek Capital Management, recently highlighted Donald Trump’s alleged involvement in cryptocurrency investments. Yusko claimed Trump and his son Eric have been actively acquiring digital assets, including Bitcoin (BTC), Hedera (HBAR), and Ripple’s XRP. According to Yusko, Trump’s investments, especially in HBAR and XRP, could place Him at the forefront of ETF approval for these cryptocurrencies.
During an interview with Scott Melker, Yusko noted whispers about exempting U.S.-based cryptocurrencies from capital gains tax—a move that could revolutionize the treatment of crypto in America. “The ripple effect of such a decision would reshape the entire market,” Yusko remarked.
Despite the substantial market cap of XRP, Yusko expressed skepticism about its long-term potential. He criticized XRP and Cardano for lacking meaningful innovation. In contrast, he praised Circle’s stablecoin, supported by real-dollar reserves, as an example of a more robust and transparent digital asset.
Trump Eyes Crypto Power Play
Former President Trump’s political agenda has merged with his interest in cryptocurrency. During a recent visit to Nashville, he directly engaged with voters and outlined bold proposals, including firing SEC Chairman Gary Gensler and creating a Bitcoin Strategic Reserve. These initiatives reflect his broader ambition to build a crypto-friendly United States.
Yusko expressed optimism regarding the evolving U.S. leadership’s approach to digital currencies. Prominent figures like Scott Bessent and the anticipated new SEC chief openly advocate for cryptocurrencies. Leadership transitions may accelerate industry growth, signaling a shift driven by tech billionaires shaping the nation’s future.
Rumors suggest Trump’s administration plans to classify XRP and HBAR as components of a national crypto reserve. Speculation intensified after a Hedera supporter, Shawn, claimed on X (formerly Twitter) that Trump’s team intends to recognize these digital assets as “American Commodities” critical for U.S. dominance in the global crypto market.
Hoskinson Rejects XRP, HBAR Reserve Rumors
Not everyone supports the circulating rumors. Cardano founder Charles Hoskinson dismissed claims about XRP and HBAR being part of a strategic reserve, emphasizing Bitcoin as the sole contender. He described the notion of other coins joining a national reserve as misinformation, hinting that the narrative might be crafted to promote specific altcoins.
This isn't accurate. The reserve is only for Bitcoin
— Charles Hoskinson (@IOHK_Charles) December 18, 2024
The cryptocurrency community responded with mixed reactions. Some commended Hoskinson for debunking the rumors, while others accused him of showing bias against XRP and HBAR. The discussion highlighted ongoing tensions among advocates of various cryptocurrencies.
Despite skepticism, Yusko remained confident in the broader trend. He argued that Trump’s crypto moves mirror strategies observed by global leaders like Putin, who have embraced innovation to strengthen national competitiveness. For Yusko, the story isn’t just about Trump; it’s about how technology leaders, irrespective of party affiliations, shape America’s economic and technological future.
