The American president says that Bitcoin, Ethereum, XRP, Solana and Cardano will be included in “Crypto Strategic Reserve”.
President Donald Trump appointed five cryptocurrencies for his proposed digital asset reserve, sending tokens prices.
Bitcoin, Ethereum, XRP, Solana and Cardano will be included in a “Crypto strategic reserve”, said Trump on his Truth social platform on Sunday.
Trump, who signed an executive decree in January to examine the creation of “storage of strategic digital assets”, said that this decision “would increase” industry after years of “corrupt attacks” by the administration of former American president Joe Biden.
“I will make sure that the United States is the cryptographic world capital. We make America great again! The American president said about his social media platform.
Cardano jumped more than 70% after Trump’s announcement, while XRP and Solana increased more than 35% and 20% respectively.
Bitcoin and Ethereum, which are the largest cryptocurrencies by market value and were not appointed to the initial social position of Trump announcing the reserve, won more than 20%.
We still do not know how the reserve offered by Trump would work in practice.
The executive decree of the American president referring to a digital asset “Stockpile” disappointed that some crypto enthusiasts, who interpreted the term as signifying that Washington would only hold the assets that this has already actively bought crypto as indicated by a “reserve”.
After having marked Bitcoin a “scam” during his first administration, Trump kissed the cryptography industry during his re-election campaign, committing to transform the United States into “cryptographic capital of the planet”.
Since the inauguration of Trump, its administration has decided to retreat the regulatory repression launched by the Biden administration.
The Securities and Exchange Commission announced last week that it had abandoned the civil accusations against Coinbase, the largest cryptography company in the United States, after having stopped or abandoned disputes against Binance, Opensea, Robinhood and Uniswap.
Trump, whose family has accumulated billions of dollars in cryptographic wealth by launching their own tokens, is expected to welcome the very first summit of white house cryptography on Friday.
