Donald Trump Unveils US Crypto Reserves – Bitcoin, Ethereum, XRP, Solana & Cardano Soar!
Jakarta, Pintu News – President Donald Trump announced the establishment of a strategic crypto reserve for the United States, which includes Bitcoin (BTC), Ethereum (ETH), XRP (XRP), Solana (SOL), and Cardano (ADA).
The statement triggered a surge in the price of crypto assets and prompted various states to come up with their own Bitcoin reserve proposals.
Currently, 24 states have supported the idea, while the push to establish a Bitcoin reserve at the federal level is also getting stronger.
As support for Bitcoin increases in Congress, the chances of establishing a national reserve are growing.
Trump Announces US Crypto Reserves
The President of the United States, Donald Trump, revealed via Truth Social that the US government will establish a cryptocurrency strategic reserve.
Read also: Trump Enters the Metaverse! His Company Files Trademarks for NFT Marketplace & Virtual Worlds
This announcement, which came on the heels of his executive order on digital assets in January, immediately triggered a surge in crypto prices.
At the time of writing, Bitcoin (BTC) has risen more than 10% to $92,459, while Ethereum (ETH) has jumped 11% to $2,456.
Trump later confirmed that BTC and ETH would be at the core of the reserve, demonstrating his administration’s commitment to making the US a global leader in digital assets.
“And of course, BTC and ETH, along with other valuable cryptocurrencies, will be at the core of this Reserve. I also really like Bitcoin and Ethereum!” – Trump in a subsequent post.
Positive Crypto Market Reaction
As mentioned earlier, Bitcoin (BTC) and Ethereum (ETH) immediately jumped by double digits after Trump’s post on his social media. Other cryptocurrencies mentioned by the US President also saw significant gains.
Solana (SOL) rose 24% to $174.37, while Cardano (ADA) surged 61%, pushing its price past $1. The global crypto market capitalization now stands at $3.12 trillion, an increase of 11% compared to the previous day.
Meanwhile, Ripple (XRP) shot up more than 30% to $2.86. In early February, the price of XRP was briefly above $3, but then plummeted 35%, looking to close the month below $2-the lowest level of the year.
This drop had shaken the confidence of XRP holders amid extreme fear in the market. With bearish momentum still dominant, XRP faces a huge challenge to return to its previous uptrend. However, Trump’s move now has the potential to restore positive sentiment towards XRP.
Read also: BlackRock Adds Bitcoin ETF to Its Model Portfolio – Here’s What You Need to Know!
Legislators Confident in Bitcoin Reserve Plan
The push to create Bitcoin reserves at the state level is getting stronger, with almost half of the states in the US proposing legislation to invest in BTC.
Inspired by Donald Trump’s support of a national Bitcoin reserve, legislators in 24 states have introduced bills to allocate public funds to Bitcoin or related products.
However, there is still resistance. At least six states have rejected Bitcoin reserve proposals due to concerns over financial risks and the use of tax funds.
Despite facing obstacles, 18 states continue to push for Bitcoin reserve legislation, with Arizona and Oklahoma leading the way in the implementation of these policies. In addition, the debate at the national level is also growing.
The 2024 election brings more pro-Bitcoin members of Congress, increasing the chances of a Bitcoin reserve being established at the federal level.
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*Disclaimer
This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.
Reference:
- BeInCrypto. Trump Announces US Crypto Reserve With XRP, Cardano, and Solana. Accessed on March 3, 2025
- CCN. Donald Trump Announces US Crypto Reserve: Bitcoin, Ethereum, XRP, Solana and Cardano Surge. Accessed on March 3, 2025
- Cointelegraph. President Trump says crypto reserve to include BTC, ETH, SOL, XRP, ADA. Accessed on March 3, 2025
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