#USCryptoReserve
Bitcoin and major cryptocurrencies Ripple’s XRP, Solana (SOL) and cardano (ADA) have rocketed higher after Donald Trump revealed plans to create a U.S.-focused crypto reserve.
The bitcoin price shot toward $90,000 per bitcoin following Trump’s post, despite not initially being named as part of the planned U.S. crypto reserve.
“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 posted to his Truth Social account, referring to Ripple’s XRP, Solana (SOL) and cardano (ADA) and without mentioning bitcoin. “I will make sure the U.S. is the crypto capital of the world. We are making America great again.”
In a follow up post, Trump added: “Obviously, bitcoin and ethereum (ETH), other valuable cryptocurrencies, will be the heart of the reserve. I also love bitcoin and ethereum (ETH).”
“The launch of a U.S. crypto strategic reserve marks a pivotal moment for digital assets, reflecting a major step in the government’s engagement with the crypto industry,” Federico Brokate, head of the U.S. business at crypto exchange-traded fund (ETF) issuer 21Shares, said in emailed comments.