Cryptocurrency markets surged on Sunday after President Donald Trump announced the formation of a United States strategic crypto reserve, which will include Bitcoin, Ethereum, XRP, Solana’s SOL token, and Cardano’s ADA.
“A U.S. Crypto Reserve will elevate this critical industry after years of corrupt attacks by the Biden Administration, which is why my Executive Order on Digital Assets directed the Presidential Working Group to move forward on a Crypto Strategic Reserve that includes XRP, SOL, and ADA,” Trump stated on Truth Social. “I will make sure the U.S. is the Crypto Capital of the World.”
He later reaffirmed support for the two largest cryptocurrencies, saying, “And, obviously, BTC and ETH, as other valuable cryptocurrencies, will be at the heart of the Reserve. I also love Bitcoin and Ethereum!”
During Sunday's trade, Bitcoin climbed 9.1%, Ethereum jumped 14%, Solana’s token gained 22.4%, and Cardano’s ADA soared over 65.3%.
Trump is set to host the first White House Crypto Summit on Friday, with investors closely watching for further details on the reserve’s implementation.
Trump initially proposed a national Bitcoin stockpile last summer at the Bitcoin 2024 conference in Nashville, where he sought support from crypto advocates.
At the same event, Wyoming Senator Cynthia Lummis introduced a proposal for a national strategic Bitcoin reserve.
Following Trump’s re-election in November, momentum for a U.S. Bitcoin reserve has accelerated, pushing the cryptocurrency to record highs.
