France – 2025/01/20: In this photo illustration, Trump Meme, Trump President Crypto, is seen appearing on a smartphone screen. (Photographic illustration by Romain Doachlin/Sopa Images/Lightrocket through Getty Images)
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Cryptocurrency gathered on Sunday after President Donald Trump announced the creation of a strategic reserve of cryptocurrencies for the United States that will include bitcoin AND etheras well as XrpSolana’s Sol Token and Cardano Ada.
“A reserve of American cryptocurrencies will exalt this critical industry after years of corrupt attacks by the Biden administration, which is why my executive order for digital assets led the presidential working group to move forward in a strategic reserve of cryptocurrencies that includes XRP, Sol, and ADA,” he said in a social truth post. “I will make sure that the US is the capital of the world’s crypts.”
“And, of course, BTC and Eth, like other valuable cryptocurrency, will be in the heart of the reserve,” he said in a posting. “I also love Bitcoin and Etereum!”
XRP increased 33% after notification while the sign was connected to Solana 22%. Cardano’s currency grew more than 60%.
Bitcoin rose 10% to $ 94,425.29 after plunging into a low three-month below $ 80,000 on Friday. Ether, which has suffered some of the biggest losses in cryptocurrencies from year to year, won 12%.
Trump is waiting for the White House’s first Crypto summit on Friday, and investors will look closely for more reserve plans.
This is the first time Trump has specified his support for a “reserve” of crypts versus a “reserve”. While the former assumes by actively buying cryptocurrencies in regular installments, a reserve simply will not sell any of the crypts currently held by the US government.
Bitcoin jumps into Trump’s announcement for a strategic cryptocurrency reserve
Trump introduced for the first time the idea of a Bitcoin stock, which “would” keep 100% of the entire Bitcoin that the US government currently holds or wins “last summer at Bitcoin 2024 in Nashville, one of the largest industry conferences, where he began to judge the cryptocurrency vote. In the same event, Wyoming Cynthia Lummis Senator presented her proposal for a national strategic reserve Bitcoin.
Following his re -election in November, the Dumbeat for a strategic reserve of Bitcoin grew aloud, helping to send the Cryptocurrenity price of the flag to new levels of all time. This moment seemed to stop after Trump issued his executive order in cryptocurrency in late January. He called for the President’s working group for Crypto to evaluate “the possible creation and maintenance of a national share of digital assets, potentially derived from the CrypoCurrenity legitimately seized by the federal government through its law enforcement efforts,” among other things.
The industry had a lukewarm response to the language, in part because investors were expecting a focus on Bitcoin, while the term “digital assets” suggested that stock could include other cryptocurrency without giving specifics.
“Starting a strategic reserve of cryptocurrencies in the US marks a major moment for digital assets, reflecting a major step in government engagement with the crypt industry,” said Federico Brokate, the head of American business in 21share. “This initiative not only strengthens the role of Bitcoin as a mature store, but also underlines the importance of blockchain networks such as Etereum, Solana, XRP and Cardano in financial infrastructure, payments and decentralized finances.”
Bitcoin, in the absence of a specific cryptocurrency catalyst, had been consolidating since the executive order. It just closed its worst month since 2022.
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