During his presidential campaign, Donald Trump repeatedly pledged to build a strategic national reserve of bitcoins and cryptocurrencies. This reserve of digital assets should help make the United States the world capital of crypto. Shortly after his return to the White House, the Republican laid the first foundations of this ambitious project.
The president has in fact created a working group entirely dedicated to the issue. The group, notably made up of by David Sacks, the Trump administration's crypto advisor, is set to consider a national cryptocurrency stockpile in the coming months.
Trump reveals the names of the cryptocurrencies in the future US reserve
A few weeks later, Donald Trump returned to the outlines of his American “strategic reserve”. In a message published on Truth Social, the president lifted the veil on the cryptocurrencies that will be part of the reserve. Trump first cited Ripple's XRP, Solana (SOL) and Cardano (ADA)
A few minutes later, the White House tenant issued a second message to announce that Bitcoin and Ethereum will obviously also be part of the project. The two digital currencies will even be at the "heart of the reserve".
Sharp rise in the price of the cryptocurrencies concerned
Unsurprisingly, this speech gave a boost to the prices of the five cryptocurrencies mentioned. After having collapsed below $80,000, Bitcoin suddenly started to rise again above $90,000. The price briefly climbed back above $94,000 before stabilizing around $93,000, erasing some of last week's losses.
The same observation was made for Ethereum, whose price jumped to $2,400. For its part, XRP even gained nearly 25% in less than 24 hours, compared to nearly 18% for Solana and more than 50% for Cardano. Investors can thank Donald Trump for boosting the value of these five digital currencies.
At the same time, the Trump administration announced its intention to organize a roundtable dedicated to crypto within the White House. “Prominent founders, CEOs and investors” will be speaking with Trump and his teams starting on March 7, 2025. The Trump administration is committed to “providing a clear regulatory framework that enables innovation and protects economic freedom”.
0 Comments