In a move that sent shockwaves through the cryptocurrency market, U.S. President Donald Trump announced the names of five digital assets that will be included in the U.S. Crypto Strategic Reserve. This revelation triggered a sharp increase in their market value, drawing significant attention from investors and analysts.
On Sunday, Trump took to social media to confirm that his January executive order aimed to establish a crypto reserve, including Bitcoin (BTC). Until now, the specific assets had remained undisclosed. In his post, he stated:
“My executive order has directed the Presidential Working Group to move forward with a Crypto Strategic Reserve that includes XRP, SOL, and ADA. I will make sure the U.S. is the Crypto Capital of the World.”
An hour later, Trump followed up with another post, clarifying:
“And, obviously, BTC and ETH will be at the heart of the Reserve as other valuable cryptocurrencies.”
Crypto Prices Skyrocket
The market reacted swiftly to the announcement. Bitcoin (BTC) surged by 8%, reaching $90,828, while Ethereum (ETH) gained 8.3%, climbing to $2,409. Other mentioned assets, including XRP, Solana (SOL), and Cardano (ADA), saw gains ranging from 8% to 62% during Sunday’s trading session.
Trump’s Pro-Crypto Stance vs. Biden’s Regulatory Crackdown
This move aligns with Trump’s pro-crypto stance, particularly after receiving strong support from the crypto industry during the 2024 election campaign. His predecessor, Joe Biden, had taken a tougher regulatory approach, aiming to curb fraud and money laundering in the industry.
According to analysts, the market will need two key catalysts to sustain this rally:
- A clear signal from the Federal Reserve indicating interest rate cuts, which could drive more capital into risk assets like cryptocurrencies.
- Transparent regulatory guidelines from the Trump administration that provide a long-term framework for crypto adoption.
First-Ever White House Crypto Summit
Trump also announced that he will host the first-ever White House Crypto Summit on Friday, where his administration’s approach to managing the Crypto Strategic Reserve will be a major topic of discussion
