Trump reveals a strategic crypto reserve featuring BTC, ETH, XRP, SOL, and ADA, triggering a market rally ahead of the White House Crypto Summit.
Trump Backs Five Cryptos for U.S. Reserve
U.S. President Donald Trump has named Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA) as the core assets for a planned Crypto Strategic Reserve aimed at making the U.S. the “Crypto Capital of the World.”
Following his announcement, the named cryptocurrencies saw a rapid price surge, with XRP, Solana, and Cardano jumping up to 62% and Bitcoin and Ethereum gaining over 10%.
Uncertainty Over Reserve Implementation
Trump’s executive order has directed a Presidential Working Group to explore how the crypto reserve will function.
While details remain unclear, the group is set to evaluate the use of cryptocurrencies seized by federal authorities as part of the national digital asset stockpile.
Crypto Summit to Provide More Details
More information is expected Friday at the White House Crypto Summit, where Trump will outline his vision for U.S. digital asset policy.
It remains uncertain whether the creation of a national reserve would require congressional approval.
Market Reacts to Trump’s Crypto Pivot
Trump, who previously called Bitcoin a “scam” in 2021, has dramatically shifted his stance, recently launching his own cryptocurrency with Melania Trump.
The shift has sparked accusations of self-interest, but it also signals a pro-crypto pivot in U.S. policy, driving market optimism.
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