At the Bitcoin Conference in Nashville in July, Donald Trump pledged to create a "strategic national bitcoin reserve."
Donald Trump announced on Sunday morning that his administration was planning a ‘multi-coin’ crypto reserve.
The former president said in a post on Truth Social that his presidential working group was continuing to work on a "strategic national bitcoin reserve," a measure he announced at the Bitcoin Conference in July.
However, by Sunday, Trump said the reserve would also include ether (ETH), XRP, Solana (SOL) and Cardano (ADA) alongside bitcoin (BTC).
“My administration is also including other cryptocurrencies in the reserve, such as Ether, Solana, Cardano, and XRP, to broaden the scope of our technological leadership,” Trump wrote. “We will be making a full announcement at a later date.”
Trump’s message on Truth Social sparked a torrent of feedback from across the crypto community. Many complained that the reserve wasn't just sticking to bitcoin. Others asked if the U.S. should be stockpiling tokens like XRP and Cardano at all. Still others wondered what might have changed Trump's mind.
The former president's timing also seemed to be aimed at retail traders. "I love the genius of announcing a strategic reserve on a Sunday, when traditional markets are closed and Wall Street sleeps. For the first time, retail investors win," Trump's son, Eric Trump, noted in a post Sunday night.
The assets' prices rose almost immediately, with ADA benefitting in particular.
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