Crypto Markets Surge After Trump's Strategic Reserve Announcement

Cryptocurrency markets experienced a substantial boost on Sunday following President Donald Trump’s announcement of a new U.S. strategic crypto reserve. The reserve is set to include prominent cryptocurrencies such as Bitcoin, Ethereum, XRP, Solana’s token, and Cardano’s coin. This announcement was shared via Truth Social, where Trump stated, “The establishment of a U.S. Crypto Reserve will amplify this pivotal industry after suffering from years of destructive policies by the Biden Administration.” He further explained that his Executive Order on Digital Assets has tasked the Presidential Working Group with forming a Crypto Strategic Reserve that incorporates XRP, SOL, and ADA. Trump emphasized his commitment to making the U.S. the leading Crypto Capital in the world, asserting the importance of BTC and ETH as central elements of the Reserve.

Following this news, XRP skyrocketed by 33%, while Solana’s token saw a 22% increase. Cardano’s coin experienced an impressive 60% surge. Bitcoin and Ethereum posted gains of 9% and 11%, respectively. This marks Trump’s first explicit endorsement of a crypto “reserve” over a “stockpile.” Unlike a stockpile, which merely involves holding onto existing government-owned crypto without selling, a reserve implies active acquisition of crypto assets through regular purchase installments.