Mark Yusko claims that Trump and Eric Trump are heavily investing in cryptocurrencies, including Bitcoin, XRP, and Hedera, which could shape U.S. cryptocurrency policies.
Speculation is increasing about Trump's classification of 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 stated that Trump and his son Eric have been actively acquiring digital assets, including Bitcoin (BTC), Hedera (HBAR), and XRP from Ripple. 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 mentioned that it is rumored that U.S.-based cryptocurrencies are exempt from capital gains tax, a measure that could revolutionize the treatment of cryptocurrencies in the United States. "The domino effect of such a decision would transform the entire market," Yusko commented.
Despite XRP's significant market capitalization, Yusko expressed skepticism about its long-term potential. He criticized XRP and Cardano for lacking meaningful innovation. In contrast, he praised Circle's stablecoin, backed by actual dollar reserves, as an example of a more solid and transparent digital asset.
Trump sets his sights on the power play of cryptocurrencies
Former President Trump's political agenda has merged with his interest in cryptocurrencies. During a recent visit to Nashville, he directly communicated with voters and presented bold proposals, including firing SEC Chairman Gary Gensler and creating a Strategic Bitcoin Reserve. These initiatives reflect his broader ambition to build a cryptocurrency-friendly United States.
Yusko expressed optimism regarding the evolution of U.S. leaders' approach to digital currencies. Prominent figures like Scott Bessent and the new head of the SEC, expected to be next, are openly advocating for cryptocurrencies. Leadership transitions may accelerate industry growth, indicating a shift driven by tech billionaires shaping the nation's future.
Rumors suggest that the Trump administration plans to classify XRP and HBAR as components of a national cryptocurrency reserve. Speculation intensified after a Hedera supporter, Shawn, claimed on X (formerly Twitter) that Trump's team intends to recognize these digital assets as "critical American products" for U.S. dominance in the global cryptocurrency market.
Hoskinson dismisses rumors about the XRP and HBAR reserve
Not everyone supports the circulating rumors. Cardano founder Charles Hoskinson dismissed the claims that XRP and HBAR are part of a strategic reserve, emphasizing that Bitcoin is the sole contender. He described the notion of other coins joining a national reserve as misinformation, suggesting that the narrative could be designed to promote specific altcoins.
The cryptocurrency community responded with mixed reactions. Some praised Hoskinson for debunking the rumors, while others accused him of showing bias against XRP and HBAR. The debate highlighted the current tensions among advocates of various cryptocurrencies.
Despite the skepticism, Yusko remains confident in the overall trend. He argues that Trump's cryptocurrency measures reflect strategies observed by world leaders like Putin, who have embraced innovation to strengthen national competitiveness. For Yusko, the story is not just about Trump; it's about how tech leaders, regardless of their party affiliations, shape the economic and technological future of the United States.