Solana founder opposes crypto reserve

To everyone's surprise, Anatoly Yakovenko, co-founder of Solana, has spoken out against the idea of a U.S.

To everyone's surprise, Anatoly Yakovenko, co-founder of Solana, has spoken out against the idea of a U.S. crypto reserve that would include SOL and other altcoins.

Last Sunday, US President Donald Trump announced that, in addition to Bitcoin and Ethereum, Solana, XRP and Cardano would also be included in the "strategic crypto reserve." Following this announcement, the SOL price rose from $141 to $178 in a short period of time. At the time of writing, Solana has dropped back to $144. Despite a slight price increase of 5 percent compared to last week, the Layer-1 chip is struggling with the temporary end of memecoin hype.

In a post on View post on Xexplains Yakovenko that he would actually prefer not to see a crypto reserve at all because, in his opinion, "if you want decentralization to fail, you just have to make the government responsible." If governments do want to get involved, the Solana co-founder would prefer that "the states set up their own reserve as a protection against central bank mistakes." Utah in particular seems to be well on its way at the moment.

Should there be a national crypto reserve anyway, he advocates that "it should be based on objectively measurable requirements. I don't care what these look like. They can even be designed so that only Bitcoin currently meets them." What is important is measurability and a rational rationale. However, his blockchain should not shy away from that; quite the contrary: "If there is a goal to achieve, the Solana ecosystem will achieve it."

Michael Saylor, founder of Strategy, also expressed skepticism on the eve of the crypto summit at the White House. According to him, only Bitcoin is neutral and therefore should be part of a long-term strategic reserve of the U.S. government.