President Donald Trump announced the creation of a U.S. Crypto Strategic Reserve, specifying the inclusion of five cryptocurrencies: Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA).
This announcement led to significant price surges across these digital assets.
Following the announcement, Bitcoin’s price increased by approximately 9%, reaching around $93,000.
Ethereum experienced a similar uptick, with its value rising by over 10%.
XRP saw its value rise from $2.23 to $2.99, Solana’s price jumped from $140 to $168, and Cardano’s value increased from $0.68 to nearly $1.
The establishment of this reserve aims to bolster the crypto industry by providing governmental support and positioning the United States as a leader in digital financial technology.
However, some experts have raised concerns regarding the reserve’s functionality and investor security, especially considering previous industry setbacks.
Further details are anticipated at the upcoming White House cryptocurrency summit scheduled for March 7, where regulatory policies and the impact of cryptocurrencies on the U.S. financial system will be discussed.
