Trump Announces Plan For US Crypto Strategic Reserve, Boosting Market Prices.
US President Donald Trump has announced plans to establish a Crypto Strategic Reserve, naming five cryptocurrencies—Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA)—as key assets in the initiative. His declaration has led to a significant surge in the market value of these digital currencies.
The move aligns with Trump’s ambition to make the United States the “Crypto Capital of the World” and marks a sharp contrast to his predecessor, Joe Biden, whose administration had imposed stricter regulations on the crypto industry due to concerns over fraud and money laundering.
Trump revealed his plans in a series of social media posts on Sunday, stating that he had signed an order instructing the Presidential Working Group to proceed with the formation of the crypto reserve. Initially, he confirmed that XRP, Solana, and Cardano would be included, before later clarifying that Bitcoin and Ethereum would also be central to the reserve.
His announcement had an immediate impact on the market, with the first three named cryptocurrencies surging by up to 62%, while Bitcoin and Ethereum saw gains of over 10% each.
More details about the initiative are expected to be unveiled on Friday, when Trump will host the first-ever Crypto Summit at the White House. However, questions remain regarding the structure of the reserve and whether its creation would require approval from Congress.
This development follows an executive order Trump signed shortly after taking office in January, which established a presidential working group to draft new cryptocurrency laws and explore the possibility of a national digital asset stockpile. The order also suggested that cryptocurrencies lawfully seized by the US government could be used as part of the reserve.
Trump’s evolving stance on cryptocurrency has drawn both praise and criticism. In 2021, he dismissed Bitcoin as a “scam” during an interview with Fox News. However, in recent weeks, both he and his wife, Melania Trump, have launched their own cryptocurrencies, sparking speculation that they may be seeking to financially benefit from new policies introduced under his administration.
As the debate over the role of digital assets in the US economy continues, Trump’s latest move signals a major shift in government policy towards crypto adoption and regulation.
