President Trump’s announcement of a US “crypto strategic reserve” sent shockwaves through the crypto market, triggering a massive surge in value.
Major Cryptocurrencies Jump
The news, shared on Truth Social, included Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA) in the proposed reserve. This announcement reportedly added $100 billion to the global crypto market cap. Individual coin gains were impressive:
- XRP: 37% increase
- Solana (SOL): 24% increase
- Cardano (ADA): Over 70% increase
- Bitcoin (BTC): 10% increase
- Ethereum (ETH): 13% increase
Trump’s Rationale
Trump positioned the reserve as a countermove to what he called “corrupt attacks” on the crypto industry by the Biden administration. His ultimate goal, he stated, is to make the US the “crypto capital of the world.” Details on how this reserve will be created remain unclear.
The Path Forward
An earlier executive order established a Presidential Working Group to investigate a national digital asset stockpile. This group has a timeline of 30 days for identifying regulations, 60 days for recommendations, and 180 days for a complete report.
Disclaimer:
This information is for general knowledge only and does not constitute investment advice. Always conduct thorough research before investing in cryptocurrencies. Any investment decisions are solely your responsibility./p>
