Cryptocurrency prices have skyrocketed within 24 hours following U.S. President Donald Trump’s announcement of plans to establish a Crypto Strategic Reserve to support the industry.
Trump revealed on Truth Social that the reserve would include Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA). He criticized the previous administration’s approach to crypto regulation, vowing to make the United States the “Crypto Capital of the World.”
“A US Crypto Reserve will elevate this critical industry after years of corrupt attacks by the Biden Administration,” Trump stated, referencing an Executive Order on Digital Assets directing the formation of the reserve.
Following the announcement, crypto prices surged:
- Bitcoin (BTC) rose 7.5% to $91,611 (from $85,155).
- Ethereum (ETH) climbed 5.7% to $2,364.
- Cardano (ADA) soared over 70%.
- XRP and Solana (SOL) gained 30% and 20%, respectively.
The market rally underscores investor optimism surrounding Trump’s pro-crypto stance and the potential impact of a government-backed digital asset reserve.
