David Sacks Highlights XRP, SOL, and ADA in US Crypto Strategy
- David Sacks Clarifies Focus on XRP, SOL, and ADA
- US creates cryptocurrency stash with seized assets.
- Possible appreciation strategies include staking and selling.
In a recent appearance on Bloomberg Television, White House AI and crypto czar David Sacks shed some light on some of President Trump’s statements that have put XRP, Solana (SOL) and Cardano (ADA) in the spotlight. According to Sacks, the mention of these cryptocurrencies is due to their significant presence in the market, ranking among the top assets by market capitalization.
“I think people are just reading too much into it. He just mentioned the top five,” Sacks said, simplifying the issue of Trump’s choice of coins. XRP currently has a market cap of $139 billion and is trading at $2,31, down nearly 9% in the past 24 hours.
In the current scenario, SOL has a capitalization of US$72 billion quoted at US$137,07, while ADA has US$29,6 billion quoted at US$0,7975. Excluding stablecoins from the equation, SOL and ADA rank respectively as the fifth and seventh largest crypto assets.
Furthermore, in a strategic move, President Trump signed an executive order which establishes the creation of a strategic reserve of Bitcoin and a stock of digital assets in the United States. This stock will be formed mainly by seized cryptocurrencies, without immediate acquisitions of new tokens.
Unlike the Bitcoin reserve, this additional stock of digital assets will be managed independently, and there will be no additional active acquisitions other than those arising from seizures. The U.S. Treasury Secretary will retain the authority to sell these assets as needed.
Prior to this decision, the United States lacked a clear policy on the handling of seized cryptocurrencies, which resulted in disorganized management across different federal agencies, resulting in lost financial opportunities.
Asked about the possibility of the Treasury Department exploring ways to value crypto holdings, Sacks confirmed that strategies such as staking and lending are under consideration. “The idea of this executive order is to create the mandate,” he explained. “We will do the audit, then we will move them to a separate account for safekeeping.”
The Treasury Secretary and his team will be in charge of managing that portfolio, pursuing strategies that ensure the assets are handled in a way that serves the long-term interests of the American people. “And yes, that could include bets, it could include rebalancing, [and] it could include sales,” Sacks added.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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