#USCryptoReserve Cryptocurrencies experienced a significant rally on Sunday following an announcement by former U.S. President Donald Trump about the creation of a U.S. Crypto Reserve, fulfilling a promise he made during his campaign.
In a post on Truth Social, Trump revealed that the reserve would include major cryptocurrencies like Bitcoin and Ethereum, along with other popular coins such as XRP, SOL, and ADA. He stated, “A U.S. Crypto Reserve will strengthen this vital industry after years of unfair criticism under the Biden Administration.” He also added that his Executive Order on Digital Assets had directed the Presidential Working Group to create a Crypto Strategic Reserve featuring XRP, SOL, and ADA. “I am committed to making the U.S. the global leader in cryptocurrency. We are MAKING AMERICA GREAT AGAIN!”
Trump further emphasized the importance of Bitcoin and Ethereum, saying, “Of course, Bitcoin and Ethereum, as key players in the crypto space, will be at the core of the Reserve. I’m a big fan of both Bitcoin and Ethereum!”
Following the announcement, cryptocurrency prices surged around 2 PM ET. Bitcoin jumped 8% to over $92,000, Ethereum rose by 10%, XRP soared 23%, Solana (SOL) gained 19%, and ADA spiked by a remarkable 50%.
Michael Saylor, Chairman of Strategy at NASDAQ: MSTR and a prominent Bitcoin supporter, commented, “Bitcoin is the backbone of the crypto economy.”
This announcement marks a significant step in the U.S. government's approach to cryptocurrencies, signaling potential growth and innovation in the industry.
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