BREAKING: Trump Declares ‘Crypto Strategic Reserve’ With XRP, SOL, And ADA

Source Bitcoinist

In what could be a major move for digital assets in the United States, President Donald Trump officially announced on Sunday the establishment of a “Crypto Strategic Reserve.” 

The ‘Crypto Capital Of The World’

This initiative, outlined in his recent executive order on digital assets, aims to include cryptocurrencies such as XRP, Solana (SOL), and Cardano (ADA). 

In his March 2 post, Trump stated: “A U.S. Crypto Reserve will elevate this critical industry after years of corrupt attacks by the Biden Administration.” He expressed his determination to position the US as the “Crypto Capital of the World,” reaffirming a campaign promise that has been a cornerstone of his 2024 presidential platform. 

This announcement follows Trump’s earlier executive order titled “Strengthening American Leadership in Digital Financial Technology,” signed on January 23, which outlined his administration’s support for blockchain technology and digital assets.

While the executive order called for the exploration of stablecoins backed by the US dollar and explicitly banned the introduction of a central bank digital currency (CBDC), it did not create a formal US Crypto Reserve. 

Instead, it directed further study on the feasibility of such a reserve, indicating that the concept has been part of Trump’s ongoing discussions since launching his presidential campaign.

Lummis Champions Bitcoin Reserve

While Trump’s proposal focuses on the inclusion of XRP, SOL, and ADA in the proposed reserve, some lawmakers advocate for a Bitcoin-centric approach. 

Senator Cynthia Lummis, a Republican from Wyoming, has been a vocal supporter of establishing a national strategic Bitcoin stockpile. She has introduced a bill calling for the US to acquire 1 million Bitcoin as part of this initiative.

At a recent conference hosted by crypto personality Anthony Pompliano, Lummis acknowledged the slow progress of her proposal, suggesting that it is more likely for a state to implement a Bitcoin strategic reserve before the federal government does. 

“States are incubators of innovation,” she remarked, highlighting the potential for state governments to take the lead in cryptocurrency adoption.

Crypto

At the time of writing, XRP, SOL, and ADA have all seen significant upward movement following Trump’s post. XRP, for example, is trading at $2.88, up nearly 30% in the last hour. Solana has followed a similar surge, with a 20% gain in the last hour, pushing the altcoin above the $170 level.

However, Cardano has been the top gainer in the same time frame, with a 52% surge that has sent its price skyrocketing near the $1 mark. Currently, ADA is trading at $0.98. 

Featured image from BBC, chart from TradingView.com

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Bitcoin Price Forecast: Tariff volatility sweeps over $200 billion from crypto marketsBitcoin (BTC) price hovers around $83,000 at the time of writing on Thursday after it failed to close above a critical resistance level the previous day.
Author  FXStreet
6 hours ago
Bitcoin (BTC) price hovers around $83,000 at the time of writing on Thursday after it failed to close above a critical resistance level the previous day.
placeholder
EUR/USD rallies as Trump’s reciprocal tariffs hit US Dollar hardEUR/USD soars above the psychological figure of 1.1000 in Thursday’s European session. The major currency pair strengthens as the US Dollar (USD) takes the bullet for long-term transition in the United States (US) economy.
Author  FXStreet
6 hours ago
EUR/USD soars above the psychological figure of 1.1000 in Thursday’s European session. The major currency pair strengthens as the US Dollar (USD) takes the bullet for long-term transition in the United States (US) economy.
placeholder
Tariffs and Non-Farm Data Clash: What's Next for Bitcoin?TradingKey - Trump's tariffs caused Bitcoin to swing wildly. Now, all eyes are on tomorrow's non-farm data.On April 3, Bitcoin (BTC) experienced a rollercoaster ride. It jumped 5% from around $84,400
Author  TradingKey
7 hours ago
TradingKey - Trump's tariffs caused Bitcoin to swing wildly. Now, all eyes are on tomorrow's non-farm data.On April 3, Bitcoin (BTC) experienced a rollercoaster ride. It jumped 5% from around $84,400
placeholder
EUR/USD gathers strength to near 1.0950 after Trump tariff announcementThe EUR/USD pair climbs to around 1.0950 during the early Asian session on Thursday.
Author  FXStreet
10 hours ago
The EUR/USD pair climbs to around 1.0950 during the early Asian session on Thursday.
placeholder
Trump's Reciprocal Tariffs Spark the Trade War of the Century! Global Economy Enters Recession NarrativeTradingKey - On April 2, U.S. President Donald Trump unveiled his reciprocal tariff plan, imposing a 10% "minimum baseline tariff" on all trading partners and higher "reciprocal tariffs" on more than
Author  TradingKey
10 hours ago
TradingKey - On April 2, U.S. President Donald Trump unveiled his reciprocal tariff plan, imposing a 10% "minimum baseline tariff" on all trading partners and higher "reciprocal tariffs" on more than
goTop
quote