Trump's Crypto Reserve Boosts Bitcoin, Ethereum, XRP & More

The price of the tokens skyrocketed when President Donald Trump of the United States shortlisted five cryptocurrencies for his identified reserve of digital assets.

On his Truth Social platform, Trump stated, “Bitcoin, Ethereum, XRP, Solana, and Cardano will be included in a 'Crypto Strategic Reserve.'"

In Trump’s January order, he emphasized the examination of the creation of a ‘strategic national digital assets stockpile’. He stated it will ‘propel’ the crypto industry after the harm done to it by the Biden administration.

On the social media platform, Trump said, “I will make sure the US is the Crypto Capital of the World. We are MAKING AMERICA GREAT AGAIN!”

 

To open a demat account in Delta Exchange, trade on F&O, simply click on Delta Exchange India.

 

Trump’s Crypto Reserve Announcement and Rocketing Crypto Prices 

Trump's announcement of the reserve led to an astonishing spike in the value of Cardano and XRP with increases over 70 and 30% respectively. In addition, Solana was able to gain over 20% as well.

The other largest-marked Bitcoin and Ethereum were able to declare gains of over 10% after previously being left out on his social media platform. It becomes evident that there is uncertainty regarding how his digital asset strategy reserve will operate in reality.

The executive order by the US president regarding the term “stockpile” with regards to digital assets has raised concerns among some crypto supporters, who took it to mean that Washington will not be actively buying crypto but rather sit on what they have, as the phrase “reserve” indicates.

 

After describing Bitcoin as a “scam,” Trump turned crypto-friendly during his re-election campaign, promising to make the US the “crypto capital of the planet.”

Upon his inauguration, Trump started to repeal the regulatory crackdowns that the Biden administration enacted.

 

Digital Currency Summit

In his 2024 election, Trump has captured the attention of the crypto industry, and now he is quickly backing their policies. He is hosting his family’s first crypto summit on Friday, at the same time as the first White House Crypto Summit, and his family has created their coins as well.

During his time as Biden’s Democratic predecessor, most regulators focused on protecting citizens from money laundering and fraud by cracking down on the industry.

During Trump’s presidency, the Securities and Exchange Commission has withdrawn investigations from several cryptocurrency companies like Binance, OpenSea, Robinhood, and Uniswap and also dropped a lawsuit from the biggest cryptocurrency exchange in the US, Coinbase.

However, in the last few weeks, the prices of cryptocurrencies have fallen sharply, with some of the largest digital currencies erasing most of the growth that they gained with the election win.

Analysts suggest that the market moves upwards from the new signs of interest rate cuts from the US Federal Reserve, or the new crypto supportive regulations under the Trump administration.

 

Conclusion

Bitcoin, Ethereum, XRP, Solana, and Cardano have seen considerable price jumps owing to Donald Trump supporting cryptocurrencies. The suggested creation of a 'Crypto Strategic Reserve' is promising to investors, even though some have questions about how the implementation might work. Under his policies, the old regulations are being taken away, making this nation much friendlier toward cryptocurrencies. The road ahead for crypto now is dependent on his decisions as well as market activities.

Disclaimer: Not a buy or sell recommendation. No investment or trading advice is given. This blog is provided solely for informative purposes and should not be considered investment advice. Always conduct research and talk with a financial advisor before investing.