Cryptocurrencies’ prices jumped after Donald Trump revealed that he would like Bitcoin and other less negotiated tokens to be in a new American strategic cryptography reserve.
He said that his January executive decree on digital assets would create a stock of currencies, in particular BitcoinEthereum, XRP, Solana and Cardano (ADA).
The names had not been announced before.
The American president Said in an article on Truth Social: “An American crypto reserve will raise this critical industry after years of corrupt attacks by the Biden administration, which is why my decree on digital assets ordered the presidential working group to move forward on a cryptographic strategic reserve which includes XRP, Sol and Ada.”
“I will make sure that the United States is the cryptographic world capital.”
“And, of course, the BTC and the ETH, like other precious cryptocurrencies, will be at the heart of the reserve,” he said in a follow-up article. “I also love Bitcoin and Ethereum!”
Bitcoin, the largest cryptocurrency in the world per market value, increased by more than 11% to $ 94,164 after Sunday’s announcement.
Ethereum, the second largest cryptocurrency, increased by around 13% to $ 2,516.
XRP jumped by 33% while the token linked to Solana jumped 25%. Cardano’s part has climbed more than 60%.
Bitcoin was exchanged at around 20% compared to the stockings of last week.
The total cryptocurrency The market increased by around 10%, or more than $ 300 billion (238 billion pounds sterling), in the hours that followed the ad, according to the Coigecko cryptocurrency data company.
This is the first time that Trump has specified his support for a cryptographic “reserve” rather than “storage”. Although the first actively supposes the purchase of crypto in regular payments, a stock would not sell any of the crypto currently owned by the United States government.
Mr. Trump is organizing the first summit of the White House cryptography on Friday, and investors will closely monitor more signs on the management of reserve plans.
His family also launched his own coins, Including his wife Melania.
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Trump first presented the idea of a Bitcoin StockpileWho “would keep 100% of all the bitcoin that the US government is currently holding or acquiring in the future” last summer at the Bitcoin 2024 industry conference in Nashville.
After his re-election to the White House in November, there were other calls for a Bitcoin strategic reserve, helping to send the price of the flagship cryptocurrency to new heights of all time.
Under his Democratic predecessor, Joe Biden, the regulators repressed the industry to try to protect the Americans against fraud and money laundering.
Under Mr. Trump, the Securities and Exchange Commission withdrew investigations into several crypto companies and abandoned legal action for Coinbase, the greatest exchange of crypto in the United States.
But in recent weeks, cryptography prices have dropped sharply, some of the largest digital currencies eradicating almost all the gains made after Mr. Trump’s electoral victory have triggered the excitement in the industry.
