Bitcoin and other cryptocurrencies surge as Trump includes them in US strategic reserve plan
March 3, 2025
Cryptocurrency prices have recently surged following an update from former US President Donald Trump, who revealed his plans to create a new US strategic crypto reserve that would include currencies like Bitcoin, Ethereum, XRP, Solana, and Cardano. Trump mentioned that this initiative is a response to what he referred to as “corrupt attacks” on the crypto industry by the Biden Administration. In a post on Truth Social, Trump expressed his intention to establish a US Crypto Reserve to uplift the industry, underscoring that the Executive Order on Digital Assets launched in January is a crucial step in this direction.
The unexpected announcement of Bitcoin, Ethereum, XRP, Solana, and Cardano as the chosen digital assets for the US strategic reserve sent cryptocurrency prices soaring. Bitcoin, the leading cryptocurrency, saw an increase of over 11% to $94,164, with Ethereum following suit with a 13% surge to $2,516. Notably, XRP witnessed a 33% jump, Solana’s token increased by 25%, and Cardano’s coin surged by more than 60%. Overall, the cryptocurrency market experienced a 10% uptick, amounting to over $300 billion in gains within hours of the revelation.
Trump’s declaration marks a departure from previous discussions about a Bitcoin stockpile, now shifting towards the notion of a crypto “reserve.” The distinction lies in the active acquisition of cryptocurrencies at regular intervals, unlike a stockpile that involves merely holding onto the existing crypto assets without selling them. Investors are eagerly awaiting further details about the strategic reserve plans, with Trump set to host the White House Crypto Summit this week. Additionally, Trump’s family has ventured into the world of cryptocurrency, with his wife Melania launching her coin.
This development comes after Trump initially proposed the concept of a Bitcoin stockpile during the Bitcoin 2024 conference, where he suggested retaining all Bitcoin owned or acquired by the US government. With more clarity on Trump’s vision for a US Crypto Reserve now emerging, the crypto industry is bracing for potential shifts and opportunities associated with this strategic move. Observers anticipate more insights to be unveiled during the upcoming White House Crypto Summit, shedding light on the specifics of this new venture and its implications for the broader crypto landscape.
