ADA Cardano, XRP, and Solana performed well after Trump's statement about adding them to the U.S. strategic reserve
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On March 2, 2025, the President of the United States, Donald Trump, announced the creation of a strategic cryptocurrency reserve, including Cardano (ADA) among the selected assets. In addition to ADA, the reserve will also include XRP, Solana (SOL), Bitcoin (BTC), and Ethereum (ETH).
The announcement had a significant impact on the cryptocurrency market. The value of ADA increased from $62,163,414,5570.68 to nearly $62,163,414,5571, representing a jump of approximately 47%. XRP rose from $62,163,414,5572.23 to $62,163,414,5572.99, while SOL went from $62,163,414,557140 to $62,163,414,557168. Bitcoin recorded a 9% increase, reaching $62,163,414,55793.000, adding $62,163,414,557166 billion to its market value.
The initiative aims to strengthen the cryptocurrency industry in the U.S. by providing government support to the sector. This move is part of a series of Republican policies aimed at positioning the U.S. as the 'crypto capital of the world.' The government also banned the Federal Reserve from developing a digital dollar and suggested future tariffs on products from Mexico, Canada, and China.
Although the announcement boosted cryptocurrency prices, there are concerns about the functionality of the reserve and the safety of investors, especially after previous setbacks in the industry. The government is expected to provide more details about the operation of the reserve and investor protection measures in the coming weeks.