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News|Donald Trump

Trump announces US crypto reserve: What it is, and why it matters

The announcement over the weekend sent crypto markets into an upwards frenzy following a recent weeks-long slump.

FILE- The US Treasury Department building at dusk in Washington, DC, June 6, 2019 [Patrick Semansky/AP]

By Al Jazeera Staff

Published On 4 Mar 20254 Mar 2025

United States President Donald Trump on Sunday announced his government would create a national strategic crypto reserve that would include five cryptocurrencies, adding he would make the US “the crypto capital of the world”.

In a statement on his Truth Social network, Trump said a crypto working group, which was set up following his inauguration in January, is pressing forward with the reserve’s creation, fulfilling promises he first made to crypto lobbyists during his election campaign.

Following his Sunday announcement, values of the named currencies, including Bitcoin, soared, following what has been a weeks-long slump.