US President Donald Trump has signalled that Bitcoin (BTC), Cardano (ADA), Ethereum (ETH), Solana (SOL), and XRP will be among the cryptocurrencies added to the USA’s strategic crypto reserve.
In an announcement on the Commander in Chief’s Truth Social platform on Sunday (2 March), Trump said the formation of a US crypto reserve would “elevate” the industry.
“I will make sure the US is the crypto capital of the world,” he said. “That includes XRP, SOL and ADA… and, obviously BTC and ETH as well as other valuable crypto cryptocurrencies.”
The President said his instruction was directed at the Presidential Working Group. In the immediate hours after the post, Bitcoin and Ether saw a jump in their values.
On Friday, Trump will host a crypto summit, featuring CEOs and C suite leaders from the crypto industry and capital markets businesses with an interest in digital assets.
The event is to be chaired by entrepreneur and investor David Sacks who serves as the chair of Trump’s Council of Advisors on Science and Technology.
The summit builds on Trump’s campaign promises to make the US the “crypto capital of the planet.”
During a speech at the Bitcoin 2024 conference in Nashville, he promised to end enforcement actions against certain crypto firms and outlined initial plans to build the strategic Bitcoin reserve fund.
Further details on the details leading up to today’s announcement are available here.
