Trump’s Big Decision: US Crypto Reserve List Announced, Prices Surge
Washington, 3 March – (www.deccanlive.com): US President Donald Trump has announced the names of five major digital currencies for the new Crypto Strategic Reserve, causing a massive surge in the crypto market.
Trump revealed on social media that under his January executive order, the US Crypto Reserve will include Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA). Following the announcement, the prices of these cryptocurrencies jumped between 8% and 62%.
Trump stated, “This Crypto Strategic Reserve will help make the US a crypto capital. XRP, SOL, and ADA will be part of it, while BTC and ETH will also be essential components.”
This move is seen as a major victory for the crypto industry, as the Trump administration is accelerating efforts to support cryptocurrencies, whereas the previous Biden administration had imposed strict regulations on them.
Crypto Market Surges After Trump’s Announcement
Following the announcement, the crypto market saw a significant boost.
- Bitcoin (BTC) surged 8% to reach $90,828.
- Ethereum (ETH) rose 8.3%, reaching $2,409.
The Trump administration is also planning to host a “White House Crypto Summit”, where top crypto industry leaders will participate. Additionally, the US government is considering managing the Crypto Reserve through the “Exchange Stabilization Fund.”
It is still unclear how the reserve will function, but experts suggest that the government might include cryptocurrencies seized by law enforcement agencies.
