Former President Trump Promises to Create a US Crypto Reserve

In a post on Truth Social on Sunday, Trump said the US crypto reserve would include bitcoin, ether (ETH-USD), XRP (XRP-USD), solana (SOL-USD), and cardano (ADA-USD).

Former President Donald Trump said in a post on Sunday on his social media platform, Truth Social, that his administration will create a US crypto reserve.

"The U.S. must become the Crypto Capital of the World. In order to do this, my administration will be putting together a new U.S. Crypto Reserve to hold Bitcoin, Ethereum, Litecoin, Solana, and Cardano—and other relevant digital currencies—in a secure and efficient manner," Trump wrote in a post on Truth Social.

Trump had previously issued an executive order to create a national crypto “stockpile” but did not name which cryptocurrencies would be included.

Shares of MSTR, formerly known as MicroStrategy and the largest corporate holder of bitcoin, rose 12% while crypto miners Riot Platforms (RIOT) and MARA Holdings (MARA), formerly known as Marathon Digital, jumped 7% and 9%, respectively. Coinbase (COIN) climbed 3.5%.

"We will be working closely with Congress to determine the best course of action for establishing this new Crypto Reserve, and we will make sure the U.S. is the Crypto Capital of the World. We are MAKING AMERICA GREAT AGAIN!" Trump's post concluded.

"The Deep State & the Fed are in a panic," Trump added in a separate post.

BTC-USD) rose nearly 9% Monday to more than $92,000.

The cryptocurrency's price surge comes as bitcoin had its worst month in February since June 2022, dropping roughly 17% as the so-called Trump trade lost steam.

But the former president's suggestion for a U.S. bitcoin reserve sparked a $300 billion global crypto rally Sunday that has continued to start the trading week.

The idea was also proposed earlier this year by Rep. Tom Emmer (R-MN) in a bill he introduced in 2024 that directed the U.S. Treasury to establish a strategic bitcoin reserve for the secure storage of U.S. bitcoins.

"The administration would be wise to engage in an open dialogue with relevant institutions and experts to determine the optimal structure and implementation strategy for such a reserve," Huw Roberts, an economist at Capital Economics, wrote in a January analysis that Trump's proposal for a crypto reserve — whether aimed at enhancing financial stability, curbing inflation, managing the national debt or fostering innovation — "would require strategic collaboration, with the Fed being the most appropriate agency to pave the path forward."

The suggestion for a U.S. crypto reserve comes as the SEC, led by Gary Gensler cracked down on pervasive fraud in the sector. Last week, the SEC dropped investigations into Coinbase (COIN), Robinhood (HOOD), and other crypto firms as Trump looks to reverse the Biden-era clampdown.

See also: SEC drops probes of Coinbase, Robinhood and other crypto firms

Laura Bratton is a reporter for Yahoo Finance. Follow her on Bluesky @laurabratton.bsky.social. Email her at laura.bratton@yahooinc.com.

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