Donald Trump has confirmed the creation of a Strategic Cryptocurrency Reserve that includes Cardano, XRP, Solana, Bitcoin and Ethereum, causing increases of up to 65% in their respective values, according to data consulted in the market.
President Trump announced on Sunday, March 2, the creation of a US government-backed strategic digital asset reserve.
The post, which was shared on the Truth Social platform, mentions Cardano (ADA), Solana (SOL), XRP (Ripple), Bitcoin (BTC) and Ethereum (ETH) among the cryptocurrencies selected for the federal reserve, which had an immediate impact on their prices, registering increases of up to 65% in their daily quotes.
BUY CARDANOThe president argued that the creation of this strategic reserve seeks to “elevate the crypto industry” after what he called “corrupt attacks” during the Joe Biden administration, including regulatory investigations and restrictions on several blockchain projects. Meanwhile, Bitcoin, the largest cryptocurrency by market capitalization, surpassed $93.000 following Trump’s announcement.
Trump leads crypto policy: from Biden restrictions to “strategic reserve”
Trump's arrival at the White House has marked a turning point in the US government's relationship with cryptocurrencies. During Biden's term, the Securities and Exchange Commission (SEC) launched more than 20 lawsuits against companies in the sector, including emblematic cases such as Ripple, Opensea and Uniswap. Trump, on the other hand, has withdrawn pending investigations and promoted a more flexible regulatory framework, promising to encourage innovation and development in the sector.
In line with the above, Trump has signed a new executive order in which the creation of the Strategic Reserve of Cryptocurrencies is ordered of the country, one that will not only store cryptocurrencies like Cardano and XRP, but will seek to “protect them from political interference,” he said on social media.
“A U.S. Crypto Reserve will elevate this critical industry after years of corrupt attacks by the Biden Administration.”
Following his statements, several analysts and experts have commented on his stance, highlighting that it could accelerate the institutional adoption of cryptoassets, foster the development of technological talent and attract massive investments towards American blockchain infrastructures.
BUY BITCOINCardano and XRP lead cryptocurrencies after presidential announcement
Following Trump's statement, cryptocurrency ADA, native to the Cardano network, recorded a 65% increase in the last 24 hours, reaching a price of $1,10, according to data consulted in CoinMarketCap.
Source: CoinMarketCap
The growth experienced by ADA after Donald Trump's announcement exceeds even the expectations of its community, which expected progress after the possible approval of an ETF linked to this cryptocurrency. For its part, XRP, developed by Ripple Labs, rose 30% to $2,89. Solana (SOL), which is also listed on the US Strategic Cryptocurrency Reserve, has seen a minor rise of 20%, compared to ADA and XRP. Still, SOL maintains its position as the fifth most valuable cryptocurrency on the market, backed by its ability to process up to 65.000 transactions per second.
Source: CoinMarketCap
Bitcoin price recovers: Surpasses $93k
Bitcoin was also impacted by Trump's strategic reserve announcement, recovering significantly. The leading cryptocurrency, which had been trading above $80.000 due to the impact of tariffs against Mexico and Canada, recovered the $90k level. Its price, according to the data consulted, increased by 7,6% on March 2, reaching $93.860 per BTC.
Source: CoinMarketCap
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This growth in the price of Bitcoin reflects investors' confidence in its role as a store of value, especially following the news that the US government will include the cryptocurrency as part of the "heart" of its federal reserve strategy. The announcement of the creation of a strategic cryptocurrency reserve in the United States has had a positive impact on the market, providing relief for investors and users after several weeks of volatility.
Finally, Trump also seems determined to fulfill the promises he made to the crypto industry during his presidential campaign, where he pledged to create a strategic cryptocurrency reserve to bolster the industry's growth and position the United States as a global leader in digital innovation.
BUY BITCOINInvesting in cryptoassets is not fully regulated, may not be suitable for retail investors due to high volatility and there is a risk of losing all invested amounts.
