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Donald Trump Names XRP, SOL, ADA, but Not BTC As Part of U.S. Crypto Reserve
U.S. President Donald Trump named XRP, Solana (SOL) and Cardano (ADA) as three assets to be included in a U.S. strategic crypto reserve on Sunday, providing the first details about what such a reserve may look like.
Notably, Trump did not mention Bitcoin (BTC) or Ethereum (ETH) — the two largest cryptocurrencies by market capitalization — in his statement, but he did not say the reserve would exclude these assets either. Trump made the announcement on Truth Social, his social media platform.
"A 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," Trump stated. "I will make sure the U.S. is the Crypto Capital of the World. We are MAKING AMERICA GREAT AGAIN!"
Following Trump's announcement, XRP, SOL, and ADA experienced significant price surges.
Trump has been discussing the idea since his 2024 presidential campaign. Soon after taking office in January, Trump signed an executive order directing a working group to evaluate the formation of a strategic crypto reserve, but the order did not explicitly mandate that the U.S. establish one outright.
Sen. Cynthia Lummis previously introduced a bill to create a strategic bitcoin reserve for the U.S. She first advocated for one at July's Bitcoin Nashville conference, where then-candidate Trump also spoke. The bill proposed by Lummis would have authorized the U.S. Treasury to acquire one million bitcoins over five years, equating to approximately 5% of the total Bitcoin supply.
A number of U.S. state legislatures have already introduced bills to create their own strategic crypto reserves, though most of these efforts have failed to get off the ground.
Notably, Trump did not mention Bitcoin (BTC) or Ethereum (ETH) — the two largest cryptocurrencies by market capitalization — in his statement, but he did not say the reserve would exclude these assets either. Trump made the announcement on Truth Social, his social media platform.
"A 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," Trump stated. "I will make sure the U.S. is the Crypto Capital of the World. We are MAKING AMERICA GREAT AGAIN!"
Following Trump's announcement, XRP, SOL, and ADA experienced significant price surges.
Trump has been discussing the idea since his 2024 presidential campaign. Soon after taking office in January, Trump signed an executive order directing a working group to evaluate the formation of a strategic crypto reserve, but the order did not explicitly mandate that the U.S. establish one outright.
Sen. Cynthia Lummis previously introduced a bill to create a strategic bitcoin reserve for the U.S. She first advocated for one at July's Bitcoin Nashville conference, where then-candidate Trump also spoke. The bill proposed by Lummis would have authorized the U.S. Treasury to acquire one million bitcoins over five years, equating to approximately 5% of the total Bitcoin supply.
A number of U.S. state legislatures have already introduced bills to create their own strategic crypto reserves, though most of these efforts have failed to get off the ground.
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