President Donald Trump has given new life to the cryptography market by announcing his plans to include cryptocurrency in his new American strategic reserve. According to some, the cryptography market jumped by more than half a bill of dollars after Asset announced the names of five cryptocurrencies which would be included in the American strategic reserve.
Trump, in A post to Truth Social Sunday, said that Bitcoin (BTC), Ether (ETH), XRP, Solana (Sol) and Cardano (ADA) will be part of the reserve, which, according to him, would make the United States “the world capital of cryptography”.
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“An American crypto reserve will increase 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,” Trump wrote in the post.
What is the American strategic reserve?
The American strategic reserve refers to the stocks of critical resources, mainly the strategic oil reserve (SPR) and strategic mineral reserves. The SPR, the largest oil reserve in the world, stores oil to mitigate the disruptions of the supply due to emergencies such as geopolitical crises or natural disasters. It can contain up to 714 million barrels of oil.
In addition, the United States maintains essential mineral reserves, such as rare elements, to ensure national security and reduce dependence on foreign sources, in particular for defense and technological production. These reservations help stabilize the economy and maintain military preparation during the crisis.
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According to the five cryptocurrencies, he jumped from value following the announcement, bringing the global market capitalization over 3 billions of dollars after More than a week of losses.
“I will make sure that the United States is the cryptographic world capital … and obviously the BTC and the ETH, like other precious cryptocurrencies, will be the heart of the reserve. I also like Bitcoin and Ethereum, ”added Trump.
