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Ex-UFC champion Conor McGregor has suggested Ireland construct a national reserve of Bitcoin. He called on May 9, 2025, in a message posted on X that doing so would give “power back to the people’s money.” He’s contesting the presidency as an independent candidate and would like to turn attention toward crypto policy.

McGregor’s Bitcoin Proposal

In his blog post, Ireland ought to have a reserve of Bitcoin in a strategic reserve. He did not specify where the funding would originate or how much it would cost. He just said that a reserve would put power back into the hands of common citizens. He further mentioned that “crypto in its origin was founded to give power back to the people.” That phrase resonates with the very premise of Bitcoin and decentralization.

Crypto in it’s origin was founded to give power back to the people.

An Irish Bitcoin strategic reserve will give power to the people’s money.

I will be cohosting a Twitter space to talk about what I want to see changed.

Victory to Ireland!

— Conor McGregor (@TheNotoriousMMA) May 9, 2025

Reaching Out To Crypto Leaders

According to reports, McGregor invited experts to collaborate with him. He tagged Anthony Pompliano, host of The Pomp Podcast, and requested feedback. He also contacted David Bailey, an expert who consulted former US President Donald Trump on crypto issues. In his responses, McGregor stated, “Message me and let’s talk on my space” and “David message me, let’s talk about your ideas!” His idea is to conduct an X Spaces session to develop details.

Political And Legal Challenges

Ireland is required to conduct its next presidential election by November 11, 2025, when President Michael D. Higgins’ term ends. Any initiative to establish a Bitcoin reserve would require support from lawmakers and the central bank. Ireland is a member of the European Union, so its monetary policy is connected to the euro. A candidate from a small party who is independent has slim chances of getting a coalition for this notion.

Additionally, McGregor is contesting a civil court decision that ruled him guilty of sexual assault. He’s also been investigated on charges of hate speech before. These factors may damage his credibility with the voters.

Irish politicians roundly reject Conor McGregor’s presidential bid https://t.co/irxI4kyoyK

— Sky News (@SkyNews) March 30, 2025

Track Record In Crypto

McGregor is not inexperienced in crypto projects, but his previous attempt didn’t work out. In early April 2025, the Real World Gaming team conducted a 28-hour presale of a token named REAL. They wanted to raise a minimum of $1 million. They only raised around $392,300 and refunded all buyers. That flop illustrates how challenging it is to get people to support you, even with a celebrity name on it.

Next Steps And Outlook

McGregor says he will reveal more about his X Spaces session in due course. He hasn’t specified a date yet. It’s unknown how many experts will accept his offer. Governments that have established Bitcoin reserves are the US, El Salvador and Bhutan, but those actions came from the highest government authorities.

A grassroots initiative by one candidate would be unique in Ireland. Voters will decide if they want a fighter-turned-politician handling complex financial policy. For now, McGregor’s plan remains at the idea stage, waiting to be tested in the political arena.

Featured image from Getty Images, chart from TradingView

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HashKey Capital, a digital asset management firm based in Hong Kong, has announced the launch of a new investment product focused on XRP, marking a strategic step toward increasing institutional exposure to the third largest crypto asset by market cap in Asia.

The product, called the HashKey XRP Tracker Fund, is positioned as the region’s first investment vehicle specifically designed to mirror XRP’s market performance. The firm also stated that there are plans to evolve the fund into an exchange-traded fund (ETF) in the future.

The Aim Behind Asia’s First XRP Tracker Fund

According to an April 18 announcement, Ripple will act as the anchor investor in the Tracker Fund, reinforcing the partnership between the blockchain firm and HashKey.

HashKey Capital is launching Asia’s first XRP Tracker Fund—with @Ripple as an early investor.

This marks a major step in expanding institutional access to XRP, the third-largest token by market cap.

— HashKey Capital (@HashKey_Capital) April 18, 2025

The initiative aims to attract regulated institutional capital into the altcoin’s ecosystem and to expand accessibility for digital asset investors across the region. HashKey has indicated that the new fund aligns with its ongoing efforts to create compliant, crypto-native financial instruments within regulated markets.

In addition to launching the Tracker fund, HashKey Capital disclosed that the firm and Ripple are deepening their collaborative relationship. The companies are currently exploring the development of additional investment products and financial infrastructure that leverage the XRP Ledger.

These discussions include the potential launch of a money market fund (MMF) using tokenization on the XRP blockchain, as well as the creation of cross-border decentralized finance (DeFi) solutions.

Collaboration With Ripple and Future Product Expansion

Vivien Wong, a partner at HashKey Capital, noted that the collaboration extends beyond financial investment. She said the firm will contribute its network of financial institutions, regulatory bodies, and investors in the region to assist Ripple’s broader objectives.

Wong emphasized that the collaboration supports Ripple’s initiatives in decentralized finance and enterprise blockchain adoption. The XRP Tracker Fund becomes the third tracker fund in HashKey’s portfolio, following similar products for Bitcoin and Ethereum.

3/ A first in Asia, but not the last

The XRP Tracker Fund is HashKey Capital’s third tracker fund, following its Bitcoin and Ethereum ETFs.

With regulatory approval, it could evolve into an ETF in the next 1-2 years, further broadening institutional access.

— HashKey Capital (@HashKey_Capital) April 18, 2025

These offerings reflect the firm’s strategy to provide institutional-grade access to key digital assets. Although not an ETF at this stage, HashKey has indicated the XRP fund may transition to an ETF structure, pending regulatory developments and investor demand.

The introduction of a region-specific XRP fund supported by Ripple adds to the growing interest in bringing traditional financial frameworks to crypto markets in Asia. Interestingly, XRP’s price was ignorant to the news with the asset seeing no uptick but instead trading at $2.08 marking a 1.2% decrease in the past day.

Featured image created with DALL-E, Chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.