BTC Rivals to Buy Before Trump Approves Strategic Bitcoin Reserve

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2021 has seen a subdued beginning for Bitcoin, as its price continues to fall short of its record high of $108,000. A significant factor that could propel Bitcoin forward is Donald Trump’s endorsement of strategic Bitcoin reserves, a decision likely to boost other digital currencies as well. Here are some promising Bitcoin alternatives to consider before this approval takes place.

BTC Rivals Could Benefit If Trump Approves Strategic Bitcoin Reserves

If the Trump administration endorses strategic Bitcoin reserves, it’s expected that Bitcoin’s value may increase significantly. This is due to its tendency to outperform when in a robust upward trend. Notable alternatives worth considering if this happens could include Ripple (XRP), Solana (SOL), Hedera Hashgraph (HBAR), and Tron (TRX).

Ripple (XRP)

If Trump decides to establish strategic Bitcoin (BTC) reserves, it might be advantageous to consider Ripple as a top competitor to invest in this year. This is due to several factors that could drive growth for XRP, such as the upcoming resolution of the Ripple vs. SEC lawsuit, the ongoing adoption of the Ripple USD, the expansion of the XRP Ledger network, and the possibility of an initial public offering by Ripple Labs. Previously, we’ve noted that the RLUSD stablecoin has surpassed PYUSD in trading volume.

As a researcher delving into the dynamics of XRP pricing, it’s essential to acknowledge several influential factors. One such factor is the prospect of a Ripple-specific Exchange Traded Fund (ETF) gaining approval. The likelihood of this happening, as indicated by Polymarket’s odds, has recently increased to 71%. Additionally, I anticipate a positive impact on XRP’s price once Paul Atkins assumes the role of SEC chair, replacing Gary Gensler in that position.

Solana (SOL)

Solana is another major competitor of Bitcoin, and could potentially perform well if President Trump decides to establish strategic Bitcoin reserves. It has several possible triggers, such as the increased likelihood that the Securities and Exchange Commission will authorize a Solana ETF. The probability of this happening has risen to 74%, which may further increase as the new administration adopts a more lenient regulatory stance.

Solana remains the preferred blockchain for developers working on meme coins, DePIN projects, and Real World Asset tokenization. The network’s activity is increasing significantly, resulting in larger volumes and more income. Interestingly, unlike Bitcoin, Solana offers a 7% staking reward to its holders. This means that an initial investment of $10,000 could potentially yield around $700 annually.

Hedera Hashgraph (HBAR)

Hedera Hashgraph stands out as a strong competitor to Bitcoin, poised to lead following the approval of strategic Bitcoin reserves. One significant factor driving this cryptocurrency is its association with major corporations such as Google and IBM, who are part of its governing body.

According to a Bloomberg analyst, it’s likely that the Securities and Exchange Commission (SEC) will grant approval for a spot HBAR ETF in the near future since they haven’t labeled it as a security. Moreover, the Hedera Hashgraph platform could potentially draw more developers into its environment due to its faster processing speeds and lower transaction fees.

Tron (TRX)

Under a Trump administration, it’s possible that the price of Justin Sun’s Tron could perform well. This is because Trump, who is renowned for his transactional nature, might instruct Department of Justice officials to halt their legal action against Sun, given his investment in World Liberty Financial.

Beyond this point, Tron now stands as the second most lucrative blockchain network, following Tether, and processes vast amounts of transactions for Tether. It offers a 4.5% staking return and exhibits lower correlation with Bitcoin.

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2025-01-09 15:58