On Sunday, US President Trump announced the creation of a “US Crypto Reserve” on Truth Social.
According to the post, the digital asset reserve will include bitcoin, ether, XRP, Solana’s SOL token, and Cardano’s ADA. The move is intended to be a part of Trump’s Executive Order on Digital Assets, as a plan to make the US “the Crypto Capital of the World”.
The announcement boosted the prices of Bitcoin by over 10%, Ethereum by over 13%, and the other mentioned digital assets by at least 20%.
The aforementioned executive order was issued by Trump on 23 January, which involved regulated cryptocurrencies in the US and developing a “national digital asset stockpile”.
In a follow-up post Trump added other “valuable” cryptocurrencies to the roster: BTC and ETH. He stated that they will be “the heart of the Reserve” and that he “loves Bitcoin and Ethereum”.
Further details are expected to be announced on Friday, when the White House will be hosting its first Crypto Summit.
Trump launched his own meme coin, $Trump, shortly before his inauguration, which crashed after First Lady Melania released her meme coin, $Melania.