Bitcoin and the crypto market at large are surging as President Trump announces that the US will establish a “crypto strategic reserve.”
On Truth Social, Trump says the reserve will include Bitcoin (BTC), Ethereum (ETH), XRP (XRP), Solana (SOL) and Cardano (ADA).
Trump’s confirmation triggered a $100 billion surge in the global crypto market, with XRP soaring 37%, SOL 24%, and ADA over 70%, while BTC and ETH rose by 10% and 13%, respectively.
Trump framed the reserve as a response to what he called “corrupt attacks” on the crypto industry by the Biden administration, emphasizing his goal to make the US the “crypto capital of the world.”
Trump hasn’t confirmed exactly how he will create the reserve.
He established a Presidential Working Group in a January executive order to explore the creation of a national digital asset stockpile, giving 30 days to identify regulations, 60 days for recommendations and 180 days for a full report.
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