Former President Donald Trump announced plans for a U.S. Crypto Strategic Reserve on Truth Social, including Bitcoin, Ethereum, XRP, Solana's SOL token, and Cardano's ADA. This comes after a recent executive order on crypto and amidst speculation about the direction of the reserve.
President Donald Trump announced the creation of a"strategic crypto reserve" that will include bitcoin, ether, XRP , Solana's SOL token and Cardano's ADA, in a post on Truth Social.Bitcoin had been in consolidation since the executive order on crypto issued in late January. It just closed its worst month since 2022."A U.S.
"And, obviously, BTC and ETH, as other valuable Cryptocurrencies, will be at the heart of the Reserve," he said in aXRP surged 33% after the announcement while the token tied to Solana jumped 22%. Cardano's coin soared more than 60%.Trump is hosting the first White House Crypto Summit on Friday, and investors will be watching closely for more clues about the direction of the reserve plans.
After his re-election in November, the drumbeat for a strategic bitcoin reserve grew louder, helping send the price of the flagship cryptocurrency to new all-time highs. That seemed to come to a halt after Trump issued hison crypto in late January.
The industry had a lukewarm response to the language, — in part because investors expected a focus on bitcoin, whereas the term"digital assets" suggested the stockpile could include other cryptocurrencies without giving specifics.Sell crypto as Trump and meme coin fervor shows speculative top, BCA Research says
KBW says shares of MicroStrategy, now called Strategy, to jump nearly 70%, company may be added to S&P 500"The launch of a U.S. crypto strategic reserve marks a pivotal moment for digital assets, reflecting a major step in the government's engagement with the crypto industry," said Federico Brokate, head of the U.S. business at 21Shares.
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