Donald Trump announces Crypto Strategic Reserve — ‘Will make sure US is Crypto Capital of the World’ | Stock Market News

US President Donald Trump announced on Sunday, March 2, that the US Crypto Reserves will include cryptocurrencies like Solana, XRP, and Cardano in efforts to elevate America’s crypto industry, according to a social media post on TruthSocial. 

Donald Trump’s announcement of a U.S. Crypto Reserve is aimed towards boosting the “critical industry”, which was allegedly the victim of the Biden administration’s corruption attacks. Earlier, President Donald Trump signed an executive order on digital assets to foster this growth.

“U.S. Crypto Reserve will elevate this critical industry after years of corrupt attacks by the Biden Administration, which is why 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,” said US President Donald Trump in his post.  

According to Donald Trump’s post on the platform TruthSocial, the ‘Crypto Strategic Reserve’ will include cryptocurrencies like XRP, Solana, and Cardano.

US President Donald Trump also reiterated his plans to make the United States the “Crypto Capital of the World” in an effort to make America great again.

“I will make sure the U.S. is the Crypto Capital of the World. We are MAKING AMERICAGREATAGAIN!” said Donald Trump on Sunday.

Furthermore, Donald Trump also reiterated his support for the two big cryptocurrencies, Bitcoin and Ethereum.

“And, obviously, BTC and ETH, as other valuable Cryptocurrencies, will be the heart of the Reserve. I also love Bitcoin and Ethereum!” said Donald Trump in another post on TruthSocial. 

Crypto Jumps

Cryptocurrencies like Bitcoin, XRP, Solana, and Cardano jumped on Sunday, March 2, after Donald Trump announced the creation of a US Crypto Strategic Reserve.

Bitcoin prices jumped nearly 9 per cent, crossing $92,000 levels on Sunday, March 2, compared to $85,166.29 levels at around 8:50 p.m. (IST), according to Coinmarketcap data. 

Other Cryptocurrencies like Solana coin (SOL) jumped 24 per cent to $175.46, compared to its levels of $141.47 at 8:55 p.m. (IST). XRP token jumped nearly 31 per cent to $2.92, compared to $2.23 at 8:55 p.m. (IST), Coinmarketcap data shows.

Cardano Token also jumped 71 per cent to $1.1, compared to its previous level of $0.64 at 8:55 p.m. (IST), according to the data.

Overall, the market sentiment indicates that this move from the US government is seen as a positive move. However, investing into these digital asset classes are highly risky due to crypto market being highly volatile, hence investors should stay cautious ahead of any investment.

Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.