United States President Donald Trump has directed his Presidential Working Group on Digital Assets, led by Bo Hines, to establish a Crypto Strategic Reserve aimed at solidifying the U.S. as the global crypto leader.
The announcement, made via Trump’s Truth Social account, confirmed that XRP, Solana (SOL), and Cardano (ADA)—all considered U.S.-origin cryptocurrencies—will be part of the reserve. Initially, Bitcoin (BTC) and Ethereum (ETH) were not mentioned, but Trump quickly clarified that they would be at the “heart of the reserve.”
“A U.S. Crypto Reserve will elevate this critical industry after years of corrupt attacks by the Biden administration,” Trump stated.
“I will make sure the U.S. is the crypto capital of the world.”
The move aligns with Trump’s earlier promise at the Bitcoin 2024 conference in Tennessee, where he pledged that his administration would retain 100% of all Bitcoin the U.S. government currently holds or acquires.
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Market Reaction: Crypto Prices Skyrocket
Following the announcement, the crypto market experienced a sharp surge, with major assets posting double-digit gains:
- Bitcoin (BTC) jumped above $94,000, reflecting renewed bullish momentum.
- Ethereum (ETH) surged 11.8% in response to its inclusion in the reserve.
- XRP skyrocketed 32.7%, reaching $2.85—its highest level in over a week.
- Solana (SOL) climbed 21.1% to $169.60, while Cardano (ADA) rallied 62.6% to reclaim $1, a level unseen in nearly a month.
- Even Dogecoin (DOGE), the leading memecoin, saw a 12.2% increase, riding the bullish momentum.
According to CoinGecko, the total crypto market capitalization has now soared to $3.2 trillion, reflecting increased investor optimism.
Upcoming White House Crypto Summit
Trump’s announcement comes just days before the inaugural White House Crypto Summit, where he is expected to meet with top industry leaders, CEOs, and investors to discuss the future of digital assets in the U.S.
The summit could further shape the administration’s stance on crypto regulation, institutional adoption, and federal digital asset policies.
With Trump positioning the U.S. as the “crypto capital of the world,” this policy shift may mark a pivotal moment for institutional and retail investors alike.
