Trump selects 5 cryptocurrencies for national reserve, causing prices to soar
March 3, 2025
US President Donald Trump recently made waves in the cryptocurrency world when he announced that Bitcoin, Ethereum, XRP, Solana, and Cardano would be included in a proposed “Crypto Strategic Reserve”. The revelation, shared on Trump’s Truth Social platform, sent prices of these cryptocurrencies soaring.
Trump’s decision to name these five cryptocurrencies came on the heels of signing an executive order to explore the creation of a “strategic national digital assets stockpile”. This move, according to the President, aimed to elevate the industry following what he described as years of “corrupt attacks” from the previous administration of Joe Biden.
“I will make sure the US is the Crypto Capital of the World. We are MAKING AMERICA GREAT AGAIN!” Trump declared emphatically on his social media platform.
In response to Trump’s announcement, Cardano saw a price jump of over 70 percent, while XRP and Solana experienced increases of more than 30 percent and 20 percent, respectively. Even Bitcoin and Ethereum, the two largest cryptocurrencies by market value and not initially mentioned in Trump’s original Truth Social post, saw gains of more than 10 percent.
Despite the excitement surrounding the inclusion of these cryptocurrencies in the proposed reserve, there is still some ambiguity regarding how exactly Trump’s plan for the reserve will operate. The mention of a digital assets “stockpile” in the executive order left some enthusiasts in the crypto community disappointed, as they interpreted it to mean that Washington would simply retain existing assets rather than actively acquire cryptocurrencies as implied by the term “reserve”.
Interestingly, Trump’s journey with cryptocurrencies has been nuanced. While he famously referred to Bitcoin as a “scam” during his first term, he had a change of heart during his re-election campaign, vowing to position the US as the “crypto capital of the planet”.
Since taking office, the Trump administration has also made efforts to reverse regulatory actions initiated by the Biden administration. For instance, the Securities and Exchange Commission recently announced dropping civil charges against Coinbase, the largest crypto exchange in the US, and has paused or abandoned litigation against other major platforms like Binance, OpenSea, Robinhood, and Uniswap.
It’s worth noting that Trump and his family have amassed significant wealth in the crypto space by launching their own tokens. In a significant move, Trump is set to host the inaugural White House Crypto Summit in the near future, underlining the increasing influence and significance of cryptocurrencies in mainstream discussions.
Overall, Trump’s announcement regarding the inclusion of these five cryptocurrencies in a proposed national reserve reflects the growing acceptance and adoption of digital assets on a broader scale, underscoring the evolving landscape of finance and technology in today’s world.
