Following President Trump's announcement of a proposed strategic reserve for five cryptocurrencies, the market has reacted positively, with substantial price increases noted across Bitcoin, Ethereum, XRP, Solana, and Cardano. This move marks a notable shift from previous regulatory stances during the Biden administration, and it raises questions about the future of cryptocurrency policy in the U.S.
Trump’s Crypto Reserve Proposal Sparks Market Surge for Selected Coins
Trump’s Crypto Reserve Proposal Sparks Market Surge for Selected Coins
President Donald Trump's endorsement of five cryptocurrencies for a U.S. strategic reserve leads to significant price increases, signaling strong support for a digital asset future.
US President Donald Trump has unveiled a proposal to establish a strategic reserve that would include five cryptocurrencies, positioning the U.S. as “the Crypto Capital of the World.” The listed coins—Bitcoin, Ethereum, XRP, Solana, and Cardano—experienced immediate price surges following his announcement.
During his presidential campaign, Trump actively sought to gain the favor of the crypto community, contrasting with the tougher regulatory approach taken by former President Joe Biden, who focused on potential fraud and money laundering in the sector. The mechanics of this proposed reserve remain vague, but further details are expected at the upcoming Crypto Summit at the White House, scheduled for Friday.
On Sunday, Trump revealed on social media that he had ordered a presidential working group to move forward with creating the Crypto Strategic Reserve, explicitly including XRP, SOL, and ADA, while affirming that Bitcoin and Ethereum would play crucial roles in this initiative. The prices of the first three cryptocurrencies surged as much as 62%, with both Bitcoin and Ethereum also seeing gains of over 10%.
This announcement marks a pivotal moment in crypto markets, which had faced a downturn after their previous highs post-election. Shortly after assuming office, Trump had mandated the establishment of a working group to propose regulations for cryptocurrencies and to explore a potential national digital asset stockpile, potentially derived from assets seized by federal law enforcement.
It remains uncertain if the formulation of this reserve would need Congressional approval. Notably, Trump had previously described Bitcoin as a “scam” during a 2021 interview, raising eyebrows about his recent pivot towards endorsing cryptocurrencies. In recent weeks, he and Melania Trump have launched their own cryptocurrencies, leading to criticism that they are capitalizing on policy opportunities while in office.
