President Trump Sends Crypto Prices Soaring After Announcing Stratetgic Government Reserve
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March 3, 2025 3:10 pm
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Cryptocurrency prices soared after President Trump announced he wanted the U.S. government to buy and hold various cryptocurrencies in a strategic reserve.
On Sunday, in a post on Truth Social, Trump wrote, ““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.”
Trump added, “And, obviously, BTC and ETH, as other valuable Cryptocurrencies, will be at the heart of the Reserve.”
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Trump’s announcement caused Bitcoin to hit $90,000 after it dipped under $80,000 last week.
Trump sends crypto prices soaring after surprise announcement of strategic government reserve https://t.co/zxUS1zyFMf
— Patrick Whittle (@pxwhittle) March 3, 2025
Check out what AP reported:
Cryptocurrency prices jumped after President Donald Trump’s surprise announcement he wants the U.S. government to purchase and hold a variety of digital assets in a strategic reserve fund, an announcement that highlights Trump’s growing attempts to use volatile cryptocurrency prices as a barometer of his public support.
Trump said on social media Sunday that his administration is working toward creating a “Crypto Strategic Reserve” that will include lesser-known cryptocurrencies XRP, solana, and cardano. He later followed up with another post saying his planned reserve would also include bitcoin and ether, the two most popular cryptocurrencies.
The announcement helped crypto prices rebound, at least temporarily, after recent sell-offs. Bitcoin was trading around $90,000 Monday morning after dipping below $80,000 last week. XRP, solana and cardano saw massive spikes in their prices after Trump’s announcement Sunday followed by a more gradual decline through Monday morning.
On the campaign trail, Trump pledged support for a “strategic national bitcoin” stockpile, which would include bitcoin the U.S. government has previously seized in law enforcement actions. Sunday’s announcement was the first time he advocated for the government to hold other types of cryptocurrencies.
Trump sends crypto prices soaring after surprise announcement of strategic government reserve https://t.co/1XdHVIJCKe
— (:alex:) (@_Star_Tron) March 3, 2025
Per CNBC:
Cryptocurrencies rallied on Sunday after President Donald Trump announced the creation of a strategic crypto reserve for the United States that will include bitcoin and ether, as well as XRP, Solana’s SOL token and Cardano’s ADA.
“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 in a post on Truth Social. “I will make sure the U.S. is the Crypto Capital of the World.”
“And, obviously, BTC and ETH, as other valuable Cryptocurrencies, will be at the heart of the Reserve,” he said in a follow-up post. “I also love Bitcoin and Ethereum!”
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