Bitcoin and major cryptocurrencies Ripple's XRP, solana and cardano have rocketed

The bitcoin price shot toward $90000 per bitcoin following Trump's post, despite not being named as being included in the planned U.S.-focused crypto reserve.

U.S. president Donald Trump has announced the creation of a crypto reserve and included Ripple’s XRP, solana and cardano in a planned U.S. crypto strategic reserve.

Trump's announcement comes after years of the Biden administration "corruptly attacking" the crypto industry, according to the former president.

The bitcoin price shot toward $90,000 per bitcoin following Trump’s post, despite not being named as being included in the planned U.S. crypto reserve.

"A U.S. crypto reserve will elevate this critical industry after years of corrupt attacks by the Biden administration, which is why my executive order on digital assets directed the presidential working group to move forward on a crypto strategic reserve that includes XRP, SOL, and ADA," Trump posted to his Truth Social account.

"I will make sure the U.S. is the crypto capital of the world. We are making America great again."

The bitcoin price and wider crypto market—including Ripple’s XRP, solana and cardano—all surged following Trump’s surprising win over Biden in the 2024 election and as traders bet he would follow through on his campaign promises to roll back Biden-era regulatory crackdowns on crypto markets and companies.

In December, Trump confirmed he plans to establish a U.S. bitcoin strategic reserve. "We're gonna do something great with crypto because we don’t want China, or anybody else … but others are embracing it, and we want to be ahead," Trump told CNBC.

"Yes, I think so," Trump said in response to a question about whether the U.S. will create a bitcoin strategic reserve similar to its oil reserve.

In July, then Republican candidate Donald Trump 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.