President Donald Trump announced Sunday that his administration is forging ahead with a U.S. “strategic reserve” of cryptocurrencies, igniting a massive rally across digital asset markets.
Naming Bitcoin, Ethereum, XRP, Solana, and Cardano as key holdings, Trump’s plan marks a dramatic pivot from past skepticism—his own included—toward embracing an industry he now vows to champion as a cornerstone of American economic might.
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“A U.S. crypto reserve will elevate this critical industry after years of corrupt attacks by the Biden Administration,” Trump declared in a Truth Social post, crediting his January executive order that tasked the President’s Working Group on Digital Asset Markets with crafting the reserve. “My Executive Order on Digital Assets directed the Presidential Working Group to move forward on a Crypto Strategic Reserve that includes XRP, SOL, and ADA. I will make sure the U.S. is the Crypto Capital of the World. We are MAKING AMERICA GREAT AGAIN!” A follow-up post emphasized Bitcoin and Ethereum as “the heart of the Reserve,” with Trump adding, “I also love Bitcoin and Ethereum!”
The announcement triggered a market frenzy. XRP spiked over 30% within hours, Solana surged 22%, and Cardano rocketed more than 60%, per CoinGecko data. Bitcoin climbed 10% to hover near $93,000 by Monday morning, while Ethereum gained 12%, hitting $2,500.
The rally underscores Trump’s sway over a sector that’s boomed since his November election win, when Bitcoin soared 40% past $100,000—a stark contrast to his 2019 dismissal of crypto as “not money” and “based on thin air.”
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Details will emerge at Friday’s White House Crypto Summit, a first-of-its-kind event chaired by A.I. & Crypto Czar David Sacks and run by Working Group Executive Director Bo Hines.
“Attendees will include prominent founders, CEOs, and investors from the crypto industry,” the White House said Friday, per The Hill, signaling Trump’s intent to roll out the red carpet for digital asset leaders.
The summit follows his January order reversing Biden’s regulatory crackdown, which had targeted crypto firms over fraud and money-laundering risks.
Trump’s vision—likening crypto to the “steel industry of 100 years ago” at July’s Bitcoin conference—casts the U.S. as a global crypto hub. The reserve, potentially seeded with seized assets or new purchases, aims to mirror strategic stockpiles like oil, though specifics remain murky.
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Treasury Secretary Scott Bessent has hinted at economic stakes, while border czar Tom Homan ties border security gains—crossings down 95% in February—to broader policy wins.
Crypto markets, battered by recent dips, seized the lifeline. Yet, skeptics wonder: is this a policy pivot or a populist play? Trump’s 2024 campaign leaned hard into crypto support, and his family’s memecoin ventures have fueled profit-motive critiques. For now, with Bitcoin at $93,000 and summit buzz building, Trump’s reserve gambit is reshaping the digital landscape—one soaring coin at a time.
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