US President Donald Trump has announced five digital assets that will be included in a new US cryptocurrency strategic reserve, causing significant market fluctuations. The reserves’ value rose 8% to 62%. Bitcoin and Ether saw notable gains of around 8%, with Bitcoin reaching $90,828 and Ether at $2,409.
The announcement follows Trump’s January executive order on digital assets, which aims to create a stockpile of currencies including Bitcoin and other cryptocurrencies. The inclusion of XRP, SOL, ADA, BTC, and ETH in the reserve is expected to boost market values.
However, some analysts are skeptical about how the new stockpile will be set up and whether it requires legislative approval. The US Federal Reserve has not indicated plans to cut interest rates, a key driver for market growth. Trump’s administration is planning its first White House Crypto Summit on Friday, with family members launching their own coins.
The announcement comes after cryptocurrency prices have fallen sharply in recent weeks. A pro-crypto regulatory framework from the Trump administration could be a major factor in driving market growth.
Source: https://edition.cnn.com/2025/03/02/business/trump-cryptocurrency-market-spike/index.html