U.S. President Donald Trump announced plans to establish a “Crypto Strategic Reserve,” aiming to make the U.S. the “crypto capital of the world.” The reserve will include Bitcoin, Ethereum, XRP, Solana, and Cardano. The announcement triggered a sharp rally, with these cryptocurrencies seeing significant price gains.

In a series of posts on Truth Social, Trump expressed his endorsement of Bitcoin and Ethereum, stating, “And, obviously, BTC and ETH, as other valuable Cryptocurrencies, will be the heart of the Reserve. I also love Bitcoin and Ethereum!”

He further detailed his vision for the U.S. cryptocurrency sector, highlighting plans to create a U.S. Crypto Reserve aimed at bolstering the industry. “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. I will make sure the U.S. is the Crypto Capital of the World. We are MAKING AMERICA GREAT AGAIN!”

Also Read: Bitcoin surges 10% to $92,900 after Trump announces crypto strategic reserve; Cardano, XRP rally up to 64%

The move follows a January executive order that directed a working group to explore a U.S. cryptocurrency stockpile, potentially sourced from federally seized assets. The plan has sparked debate over its potential impact on markets and the U.S. dollar, given Bitcoin’s volatility and lack of intrinsic value.

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Following the announcement, Bitcoin surged 10% to $92,900, while Ethereum also saw strong gains. Altcoins in the reserve, including XRP, Solana (SOL), and Cardano (ADA), jumped as much as 64%, reflecting investor optimism over Trump’s pro-crypto stance.

Industry experts see this as a strategic push to position the U.S. at the forefront of the digital asset sector. “With Bitcoin dominance declining and altcoins gaining traction, investors are evaluating the broader implications of this move,” said Avinash Shekhar, Co-Founder & CEO of Pi42. “At a time of macroeconomic uncertainty for crypto, this decision marks a critical shift, driven by political power and significant financial moves.”

Also Read: Pi Coin’s next move: Can it hit $100 and beyond?

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)