In a surprising shift, former President Donald Trump has declared Bitcoin and Ethereum central to a new U.S. Crypto Reserve. This initiative, announced alongside his $3.07 billion memecoin's 18.1% surge, positions cryptocurrencies like XRP, Solana, and Cardano at the forefront of U.S. digital asset policy. The reserve aims to bolster the crypto industry following regulatory challenges during President Biden’s tenure.
Trump's executive order outlines plans to make the U.S. a global crypto capital by including XRP, Solana, and Cardano in the strategic reserve. His broader vision includes a national digital asset stockpile, utilizing assets seized through law enforcement actions. This plan follows Trump's historical criticism of cryptocurrencies, now replaced by a supportive stance that pushes for deregulation.
The move has sparked significant market activity, with Bitcoin and Ethereum reaching over $91,000, contributing $260 billion in market cap. Industry leaders, including Michael Saylor, are set to discuss the reserve's next steps at an upcoming summit. As the political landscape shifts, Trump's initiative could redefine the U.S. role in the global crypto economy, despite skepticism and potential legislative hurdles.
