The cryptocurrency market witnessed a dramatic surge in prices after United States President Donald Trump announced plans to establish a “Crypto Strategic Reserve” to support digital assets.
The move, which was revealed on Trump’s Truth Social platform on Sunday, aims to bolster the industry and counter what he described as “corrupt attacks” by the previous administration.
Trump disclosed that five cryptocurrencies—Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA)—would be included in the reserve, sparking an immediate rise in their values.
“A US Crypto Reserve will elevate this critical industry after years of corrupt attacks by the Biden Administration, which is why my Executive Order on Digital Assets directed the Presidential Working Group to move forward on a Crypto Strategic Reserve that includes XRP, SOL, and ADA,” Trump stated.
The announcement comes after Trump signed an executive order in January to explore the creation of a “strategic national digital assets stockpile.”
He emphasized that his administration’s goal is to restore the United States’ dominance in the crypto sector.
“I will make sure the US is the Crypto Capital of the World. We are MAKING AMERICA GREAT AGAIN!” he declared.
In a follow-up post, he reaffirmed his support for Bitcoin and Ethereum, stating, “And, obviously, BTC and ETH, as other valuable Cryptocurrencies, will be at the heart of the Reserve. I also love Bitcoin and Ethereum!”
Crypto Market Reacts
Following Trump’s announcement, cryptocurrency prices soared. According to CoinMarketCap data:
Bitcoin surged by 7.5%, climbing from $85,155 on Sunday to $91,611 by Monday morning.
Ethereum jumped 5.7%, rising from $2,236 to $2,364.
Cardano saw an explosive 70% increase.
XRP and Solana experienced gains of 30% and 20%, respectively.
Market analysts suggest that the proposed Crypto Strategic Reserve could bring greater institutional stability to the sector while reinforcing Trump’s commitment to making the US a global leader in digital assets.
