Bitcoin, Ethereum, and other cryptocurrencies surge in value after President Trump mentions the promotion of 'cryptocurrency reserves'
Following US President Donald Trump's statement in a post on his personal social media account,
Donald Trump Names XRP, SOL, ADA, BTC and ETH as Part of US Crypto Reserve
https://www.coindesk.com/policy/2025/03/02/trump-to-establish-us-crypto-reserve
Trump announces strategic crypto reserve including bitcoin, Solana, XRP and more
https://www.cnbc.com/2025/03/02/trump-announces-strategic-crypto-reserve-including-bitcoin-solana-xrp-and-more.html
The idea of the government holding cryptocurrencies, including Bitcoin, as a strategic reserve has been under consideration for some time in the United States. Trump also proposed a national stockpile of cryptocurrencies during the 2024 US presidential election campaign, claiming, 'I have a plan to make America the cryptocurrency capital and the world's Bitcoin superpower.'
Donald Trump proposes national cryptocurrency stockpile, Kamala Harris declines Bitcoin conference invitation but approaches experts - GIGAZINE
After winning the presidential election, Trump appointed former PayPal businessman David Sachs as the White House AI & Crypto Czar in December.
President-elect Trump appoints former PayPal COO David Sachs as 'White House AI and cryptocurrency czar' - GIGAZINE
Then, on March 2, 2025 local time, Trump posted on Truth Social, 'America's Cryptocurrency Reserve will lift up this vital industry after years of corrupt attacks by the Biden Administration. That's why my Executive Order on Digital Assets directs the Presidential Working Group to advance a Cryptocurrency Strategic Reserve that will include Ripple, Solana, and Cardano. I will ensure that America is the cryptocurrency capital of the world. We will Make America Great Again!'
The original post also did not mention the two major cryptocurrencies, Bitcoin and Ethereum, but in a later post Trump commented, 'And obviously Bitcoin and Ethereum will be at the core of the reserve, as will other valuable cryptocurrencies. I love Bitcoin and Ethereum too!'
Following the series of posts, various virtual currencies rose in value at once . At the time of writing, Bitcoin was up 8.63% compared to the previous day, Ethereum 9.87%, Ripple 23.76%, Cardano 60.66%, and Solana 19.08%.
Trump is scheduled to host the ' 1st White House Crypto Summit ' on March 7th, inviting cryptocurrency experts, and attention is also focused on the content of this summit.
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in Note, Posted by log1h_ik