The US President Donald Trump announced the creation of a strategic cryptocurrency reserve for the US, which will include Bitcoin, Ethereum, Ripple, Solana, and Cardano.
US President Donald Trump announced plans to create a strategic cryptocurrency reserve that will include Bitcoin, Ethereum, Ripple, Solana, and Cardano, according to a post on his Truth Social platform on Thursday.
The cryptocurrency sector, which Trump said is of vital importance following years of corrupt attacks from the Biden administration, will be enhanced with the US cryptocurrency reserve.
“I will ensure the US becomes the world’s cryptocurrency capital,” Trump said.
In a later post, Trump clarified: “It is clear that Bitcoin, Ethereum, and other valuable cryptocurrencies will be part of the reserve.” However, he did not specify how such a reserve would be created or its potential benefits for the country.
Following the announcement, cryptocurrencies received a strong boost. Ripple rose by 33%, Cardano increased by over 60%, and Bitcoin climbed by 10% after falling to a three-month low of under $80,000 on February 28.
Trump is set to host the first-ever cryptocurrency summit at the White House next Friday, which investors are closely monitoring for more information on the future of the industry.
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