President Trump said Sunday that the U.S. will create a “crypto reserve” that will include digital assets XRP, Solana, and Cardano. His initial post to Truth Social excluded Bitcoin from the list, which confused observers who wondered why the largest crypto asset by market cap wouldn’t be included in such a reserve. Trump, appearing to respond to the confusion, followed up with a second post to Truth Social to set the record straight:
“And, obviously, BTC and ETH, as other valuable cryptocurrencies, will be at the heart of the reserve. I also love Bitcoin and Ethereum!” Trump said. In his first post regarding the reserve on Truth Social Sunday, the president wrote that the move was a bid to make the country the “crypto capital of the world. 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,” he said. “I will make sure the U.S. is the crypto capital of the world.”
Solana, XRP, and Cardano have skyrocketed in value since Trump’s post was published. XRP has jumped 21% in the last 24 hours to a price of $2.61—the highest price in more than a week. Solana has spiked 12.5% to $158, while Cardano is up a whopping 37% to $0.87, its highest price in nearly a month. Bitcoin’s price is also rising, getting a larger bump following Trump’s mention in his second post. It’s up more than 7.6% to a current price above $91,000.
The announcement comes after Bitcoiners expressed worry that the president would not stick to his campaign promise of creating a strategic reserve of the biggest and oldest cryptocy. In January, prominent crypto firm Ripple—whose co-founders created XRP—was accused of attempting to “undermine” efforts to create a Bitcoin-centric reserve.
President Trump claimed during his campaign that the country would build a strategic Bitcoin reserve. During a speech at Bitcoin 2024 in Nashville, he said, “As the final part of my plan today, I am announcing that if I am elected, it will be the policy of my administration, the United States of America, to keep 100% of all the Bitcoin the U.S. government currently holds or acquires into the future.” President Trump campaigned as a crypto-friendly leader after regulators under the Biden Administration cracked down hard on the industry, hitting major companies in the space with lawsuits. The SEC has since retreated from many of those cases and investigations, including against major players like Coinbase, OpenSea, and Robinhood.
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