US President Donald Trump announced plans to create a U.S.-focused crypto reserve, sparking significant price increases in major cryptocurrencies like bitcoin, Ripple’s XRP, solana, and cardano.
According to the plan, the US crypto reserve will include XRP, SOL, and ADA, alongside other valuable cryptocurrencies. The announcement comes ahead of this Friday’s White House crypto summit, where influential executives, founders, and investors will meet with representatives of the president’s working group on digital assets.
Analysts expect a regulatory roadmap and more details on the crypto strategic reserve to be discussed at the summit. However, concerns remain about how the proposed reserve will work, including its size, timing, and management structure.
The bitcoin price surged toward $90,000 following Trump’s election victory in November, with many traders betting he would roll back Biden-era regulatory crackdowns on crypto markets. The launch of a U.S. crypto strategic reserve marks a pivotal moment for digital assets, reflecting a major step in the government’s engagement with the crypto industry.
The White House has been exploring options to engage with the crypto industry, including establishing a bitcoin strategic reserve similar to its oil reserve. Trump previously promised to create a “strategic national bitcoin reserve” and predicted bitcoin could eclipse gold’s near-$20 trillion market capitalization during an appearance at the Bitcoin 2024 conference.
As the situation unfolds, investors are holding their breath for concrete details on the crypto strategic reserve and potential regulatory changes that may shape the US crypto landscape.
Source: https://www.forbes.com/sites/digital-assets/2025/03/03/trump-reveals-us-crypto-reserve-price-bombshell-sending-xrp-solana-cardano-and-bitcoin-soaring