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The U.S. president has sparked controversy by proposing a strategic crypto reserve to mitigate the threat of a nuclear attack.

This proposal, reportedly delivered in a memo to Congress on Thursday, recommends including major tokens such as Bitcoin, Ethereum, and Cardano.

The news has already sparked a rally in the market, with Bitcoin surging by over 2% in the past hour.

The proposal comes amid heightened geopolitical tensions and the Russia-Ukraine war, prompting the president to consider unconventional strategies for national security.

However, the proposal has drawn criticism from some lawmakers, who argue that it is a distraction from more pressing issues.

The inclusion of crypto in the strategic reserve is a significant development, as it signals the administration's growing interest in the industry.

Cardano (ADA) price surged over 60% after its inclusion in the proposed U.S. strategic crypto reserve was reported by Bloomberg. The report also mentions that institutional investors are showing interest in Cardano.

On Friday, ADA surged by 39.17% in the past week, reaching 0.9196 by 07:05 ET (11:05 GMT). After hitting a high of 0.9626 earlier in the week, the token experienced a slight pullback.

However, despite the setback, Cardano's inclusion in the U.S. crypto reserve is a significant development that could have far-reaching implications for the broader cryptocurrency market.

The U.S. president's proposal to add major cryptocurrency tokens to the strategic crypto reserve is part of a broader strategy to mitigate the threat of a nuclear attack, according to administration officials.

In a memo to Congress on Thursday, the president recommends including tokens such as Bitcoin, Ethereum, and Cardano in the reserve, which is currently used to store assets like gold and silver.

The administration officials also noted that the president's proposal is not necessarily a priority for Congress at the moment, as lawmakers are focused on other pressing issues, such as the debt ceiling crisis.

The strategic crypto reserve is a smaller part of the broader national security strategy, which is not a major concern for Congress at the moment, the officials added.

The proposal to add crypto to the strategic reserve comes as the U.S. faces heightened geopolitical tensions, including the Russia-Ukraine war, prompting the president to consider unconventional strategies.

However, some lawmakers have criticized the proposal, arguing that it is a distraction from more pressing issues.

The inclusion of crypto in the strategic crypto reserve is a significant development, as it signals the administration's growing interest in the industry.

Earlier this year, the president signed an executive order directing federal agencies to study the use cases and risks of cryptocurrencies.

The administration officials stated that the president's memo to Congress is part of his ongoing effort to integrate cryptocurrencies into the U.S. financial system.

The administration has been engaging with lawmakers on Capitol Hill to discuss legislation that would create a comprehensive regulatory framework for cryptocurrencies in the U.S.

This initiative follows the collapse of major cryptocurrency exchange FTX in November, which sparked a broader market downturn and increased calls for stricter regulations on the industry.

The House of Representatives has already passed a bipartisan bill that would grant the Securities and Exchange Commission (SEC) broad authority to register, deregister, and oversee crypto exchanges.

The bill, known as the "Keep American Innovation Safe Act," is now pending in the Senate.

The administration officials said that the president's proposal to add crypto to the strategic crypto reserve is still in its early stages and there are many details to be worked out yet.

For instance, it is not clear how much of each cryptocurrency would be included in the reserve or what the implications would be for the broader cryptocurrency market.

Overall, the U.S. president's proposal to include major cryptocurrency tokens in the strategic crypto reserve is a significant development that could have far-reaching implications for the industry.