- Cryptocurrency prices surged yesterday following President Donald Trump’s announcement of a U.S. strategic crypto reserve
- Bitcoin, Ethereum, XRP, Solana, and Cardano experienced significant price increases
- This move aims to position the United States as a leader in the global crypto industry
U.S. President Donald Trump carried out a campaign promise yesterday when he unveiled plans for a strategic crypto reserve. The move, which aims to solidify the United States’ position in the burgeoning cryptocurrency market, led to a significant surge in cryptocurrency prices, with major digital assets like Bitcoin, Ethereum, XRP, Solana, and Cardano experiencing notable gains. The initiative underscores the administration’s commitment to embracing digital assets and positioning the U.S. as a dominant force in the global crypto landscape, although Bitcoin maximalists were horrified at the inclusion of other coins.
Trump Forgets Ethereum and Bitcoin
President Trump revealed the reserve on his social media platform, Truth Social, where he announced the creation of a “Crypto Strategic Reserve.” Trump specified that this reserve would include prominent cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA), with the inclusion of ADA and XRP catching many by surprise.
In his post, Trump stated, “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.” Having seemingly forgotten them, Trump later calmed the waters frothed up by Bitcoin maximalists when he emphasized his support for Bitcoin and Ethereum, noting, “Obviously, BTC and ETH, as other valuable Cryptocurrencies, will be at the heart of the Reserve. I … !”
The market reacted swiftly to this announcement. Bitcoin’s price surged by approximately 10%, reaching a peak of $94,821. Ethereum saw a 12% increase, while XRP, Solana, and Cardano experienced even more substantial gains of 30%, 20%, and over 50%, respectively.
This surge added over $300 billion to the total cryptocurrency market capitalization, reflecting heightened investor confidence and interest.
Huge Shift in Crypto Acceptance
The establishment of a strategic crypto reserve signifies a monumental shift in U.S. financial policy, acknowledging the growing importance of digital assets in the global economy. Trump’s initiative aims to make the United States the “Crypto Capital of the World,” positioning the nation at the forefront of cryptocurrency adoption and innovation.
Industry experts view this move as a catalyst for broader institutional adoption and regulatory clarity. Federico Brokate, head of U.S. business at 21Shares, commented, “It has the potential to accelerate institutional adoption, provide greater regulatory clarity, and strengthen the U.S.’s leadership in digital asset innovation.” The administration’s proactive approach contrasts with previous regulatory stances, signaling a more supportive environment for cryptocurrency development.
Not everyone was happy, however, with many Bitcoiners complaining that centralized coins were included in the reserve alongside the decentralized Bitcoin:
XRP is the biggest and oldest grift in crypto. any support given to them by anyone, including the US govt, is a disaster
— brantly.eth (@BrantlyMillegan) March 2, 2025
Adding Cardano and XRP to the National Strategic reserve is the most retarded thing I’ve heard.
And I stay on this app 24*7 so I have heard a lot of retarded things.
— Emperor👑 (@EmperorBTC) March 2, 2025
Upcoming Initiatives and Future Outlook
To further bolster the nation’s crypto agenda, President Trump is set to host a crypto summit at the White House this week. This event will bring together prominent figures from the cryptocurrency industry, including founders, CEOs, and investors, to discuss the future of digital assets in the United States.
Such initiatives are expected to foster collaboration between the government and the crypto industry, paving the way for innovative policies and frameworks.
