President Donald Trump — who once called cryptocurrencies a "scam" — triggered a rally for several major coins on Sunday after declaring plans to turn the United States into the "crypto capital of the world."

Trump said in a post on his social-media network, Truth Social, that he would create a "Crypto Strategic Reserve" that would include the cryptocurrencies Ripple, Solana, and Cardano. In a follow-up post, Trump said that Bitcoin and Ethereum would also "be at the heart of the reserve."