By Abigail Philip David
Cryptocurrency prices have surged sharply following U.S. President Donald Trump’s announcement of a plan to establish a Crypto Strategic Reserve to support the industry.
Trump revealed on his Truth Social platform on Sunday that the reserve would include Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA)—a move that sent their prices soaring.
“A U.S. Crypto Reserve will elevate this critical industry after years of corrupt attacks by the Biden Administration,” Trump stated, referencing an executive order he signed in January to explore the creation of a strategic national digital assets stockpile.
He added, “I will make sure the U.S. is the Crypto Capital of the World. We are MAKING AMERICA GREAT AGAIN!”
In a follow-up post, Trump reaffirmed his support for Bitcoin and Ethereum, saying, “And, obviously, BTC and ETH, as other valuable Cryptocurrencies, will be at the heart of the Reserve. I also love Bitcoin and Ethereum!”
Following the announcement, cryptocurrency markets reacted swiftly:
- Bitcoin (BTC) surged 7.5%, rising from $85,155 on Sunday to $91,611 by 9:30 a.m. Monday, according to CoinMarketCap.
- Ethereum (ETH) climbed 5.7% to $2,364, up from $2,236.
- Cardano (ADA) skyrocketed by over 70%.
- XRP and Solana (SOL) also saw significant gains, rising more than 30% and 20%, respectively.
Trump’s move signals a potential shift in U.S. policy toward embracing cryptocurrencies, a stance that could significantly impact the global digital asset landscape.
