Cryptocurrencies surged on Sunday following President Donald Trump’s announcement of a US strategic crypto reserve. This reserve will include Bitcoin, Ether, XRP, Solana’s SOL token, and Cardano’s ADA.
“A US Crypto Reserve will elevate this critical industry after years of corrupt attacks by the Biden Administration. This is why my Executive Order on Digital Assets directed the Presidential Working Group to proceed with a Crypto Strategic Reserve that includes XRP, SOL, and ADA,” Trump shared on Truth Social. “I will ensure that the US becomes the Crypto Capital of the World.”
In a follow-up post, he added, “And, naturally, BTC and ETH, as other valuable cryptocurrencies, will be at the core of the Reserve. I also love Bitcoin and Ethereum!”
XRP surged 33% following the announcement, while Solana’s token jumped 25%, and Cardano’s coin soared by more than 60%. Bitcoin climbed 10% to $94,343.82, after falling to a three-month low below $80,000 on Friday. Ether, which has faced significant losses this year, increased by 13%.
Trump is set to host the first White House Crypto Summit on Friday, where investors will be looking for more insights into the reserve plans.
