Trump's crypto reserve plan triggers $300B market rally
President Donald Trump’s announcement of a U.S. "Crypto Strategic Reserve" has triggered a $300 billion rally in the global crypto market.
The reserve is expected to include major cryptocurrencies such as Bitcoin (CRYPTO:BTC), Ethereum (CRYPTO:ETH), XRP (CRYPTO:XRP), Solana (CRYPTO:SOL), and Cardano (CRYPTO:ADA).
Trump stated that this initiative aims to position the U.S. as a leader in the digital asset industry.
In a series of posts on Truth Social on March 2, Trump expressed his commitment to strengthening the crypto industry after what he described as years of restrictive policies under the Biden administration.
He said his Executive Order on Digital Assets instructed the Presidential Working Group to move forward with establishing the Crypto Strategic Reserve, with XRP, SOL, and ADA joining BTC and ETH as core assets.
Following the announcement, Bitcoin surged over 10%, peaking at $94,821.
Ethereum saw a 12% increase, while XRP, Solana, and Cardano gained 30%, 20%, and more than 50%, respectively.
Trump’s proposal aims to enhance the legitimacy of cryptocurrencies, potentially driving institutional adoption and deeper integration into the traditional financial system.
It could also shape regulatory approaches to digital assets, allowing the U.S. to influence global crypto regulations and standards.
Some analysts believe this move may encourage other nations to establish similar reserves, leading to a more coordinated international regulatory framework.
Trump is set to host the first White House Crypto Summit on March 7, where discussions will focus on regulatory policies, stablecoin oversight, and Bitcoin’s role in the U.S. economy.
