BlockBeats News: On March 7th, according to JPMorgan, the likelihood of approval for the US strategic cryptocurrency reserve is less than 50%, and tokens such as XRP, Solana (SOL), and Cardano (ADA) are unlikely to be included.
Nikolaos Panigirtzoglou, Managing Director of Global Markets Strategy at JPMorgan Chase, said in an interview, "We believe that the approval of the US strategic cryptocurrency reserve is not the most likely scenario (assuming congressional approval is required). Therefore, we believe its likelihood is less than 50%
He added, "If the US strategic cryptocurrency reserve is ultimately approved, it will be difficult to include smaller tokens outside of Bitcoin and Ethereum, as we pointed out in our report, including these tokens may raise more concerns about risk and volatility
JPMorgan's report was released on Wednesday, which mentioned that the cryptocurrency market initially rebounded sharply after President Trump proposed to include XRP, Solana (SOL), and Cardano (ADA) along with Bitcoin (BTC) and Ethereum (ETH) in potential strategic cryptocurrency reserves. However, this proposal quickly faced market skepticism regarding congressional approval and the feasibility of incorporating smaller tokens.
The report also pointed out that similar state-level Bitcoin reserve proposals have failed in Montana, North Dakota, South Dakota, and Wyoming, with local lawmakers raising concerns about risk and volatility. （The Block）
