President Donald Trump has announced the creation of a ‘strategic crypto reserve’ that will include Bitcoin, Ethereum, XRP, Solana, and Cardano.
This move aims to position the United States as the ‘crypto capital of the world’ and has already led to significant price increases for these cryptocurrencies.
The announcement was made on Truth Social, where Trump emphasised the importance of elevating the crypto industry after what he described as years of corrupt attacks by the previous administration.
This is the first time Trump has specified his support for a crypto ‘reserve’ versus a ‘stockpile’.
Many crypto investors feel strongly that a crypto reserve should hold only Bitcoin, while some reject the idea of a reserve holding digital assets altogether.
Cryptocurrencies instantly rallied after President Donald Trump announced the creation of a strategic crypto reserve.
Crypto coins have since lost some of those initial gains.