Trump has ordered the establishment of a strategic cryptocurrency reserve in the United States.
U.S. President Donald Trump has tasked his administration with the creation of a strategic cryptocurrency reserve. This reserve will notably include tokens XRP, SOL, and ADA.
This information comes from RBK-Ukraine, citing a statement made by Trump on Truth Social and Binance.
According to Trump, the U.S. cryptocurrency reserve will revitalize this critically important sector after years of corrupt attacks from the administration of former President Joe Biden.
"That’s why my executive order on digital assets directed the presidential working group to move forward in establishing a strategic cryptocurrency reserve that includes XRP, SOL, and ADA. I will ensure that the U.S. becomes the cryptocurrency capital of the world. We are making America great again!" he emphasized.
It’s worth noting that even though Trump did not mention one of the largest cryptocurrencies by market capitalization, Bitcoin, in his statement, it still experienced a rise of several percentage points within minutes.
Trump's Impact on Cryptocurrency
The cryptocurrency market is actively responding to Trump. Specifically, on the night of Thursday, December 5, Bitcoin reached the milestone of $100,000 per coin for the first time. This new record occurred after Trump announced his administration's nominees, who are believed to be key to initiating a pro-cryptocurrency policy when the Republican takes office in January.
At the same time, it is important to recall that Donald and his wife Melania Trump took a step into the world of cryptocurrency by launching their own meme coins - Trump and Melania.
This sparked a flurry of discussions within the crypto community and beyond, as the launch of tokens by prominent politicians is an unusual event.
However, by the end of February, it became known that the stock market and "crypto" began to decline again. Specifically, Bitcoin fell by 25% from its historic peak.
RBK-Ukraine provided a detailed explanation of why the "crypto crash" occurred and what Trump's involvement is.