Bernstein analysts were puzzled by U.S. President Donald Trump's announcement that he would add XRP, SOL, ADA, ETH, and BTC to the national cryptocurrency reserve, writing in a report on Monday that the move could be difficult to implement if it involves the Federal Reserve. "Bitcoin's status as the US government's" digital gold "is to be expected," analysts Gautam Chhugani, Mahika Sapra and Sanskar Chindalia wrote in the report. "Ethereum and Solana are currently the most used blockchain networks, and holding their native assets has helped the industry grow - but the rationale for why sovereigns have included it in their reserves is unclear," they noted. Bernstein analysts added that it is still unclear whether the idea of a cryptocurrency reserve can be pursued by executive order alone. Convincing other members of the U.S. government to accept holding counterfeit products like Solana and Ethereum could be very difficult. "We believe that the realistic path may be for the US government to convince Congress that bitcoin is the new digital gold/global store of value and that gold price reassessment/gold reserve redistribution is justified," their report says. But they believe that using Federal Reserve funds or Treasury funds to buy other blockchain assets is a difficult proposition to sell.