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Trump Announces Five Cryptocurrencies for U.S. ‘Strategic Reserve,’ Driving Market Surge

by Raidi
2025-03-03
in World
A A
Trump cryptocurrencies

President Donald Trump (Pinterest)

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Jakarta, Indonesia Sentinel — President Donald Trump has announced five cryptocurrencies under consideration for a new U.S. “strategic reserve.” Trump announce the initiative in a post on his Truth Social account, stating that this initiative extends his executive order from January.

According to Trump, his executive order on digital assets will establish a cryptocurrency reserve that includes Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA). This marks the first time the U.S. government has officially disclosed the list of digital assets under consideration.

“Clearly, BTC and ETH, along with other valuable cryptocurrencies, will be at the core of this reserve,” Trump said, referencing Bitcoin and Ether, as reported by Reuters on Monday (March 3, 2025).

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Crypto Price Surge

Trump’s announcement immediately triggered a surge in cryptocurrency prices, reversing a recent downturn. Bitcoin, the world’s largest cryptocurrency by market value, jumped more than 10% to $92,459 on Sunday afternoon U.S. time.

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Ether, the second-largest digital asset, climbed around 11% to $2,456. XRP, Solana, and Cardano also saw significant gains of 34%, 22%, and 63%, respectively.

Trump has gained strong support from the cryptocurrency industry during his 2024 election campaign, and he has moved quickly to align with their policy priorities. Recent reports states that the president is set to host the first White House Crypto Summit scheduled on Friday, March 7. Additionally, his family has launched its own cryptocurrency token.

Under his Democratic predecessor, Joe Biden, regulators cracked down on the crypto industry to protect Americans from fraud and money laundering. However under Trump administration, the Republican-led Securities and Exchange Commission (SEC) has withdrawn investigations into several cryptocurrency firms and dismissed a lawsuit against Coinbase (COIN.O), the largest U.S.-based crypto exchange.

Despite Trump’s pro-crypto stance, digital asset prices have sharply declined in recent weeks, erasing most of the gains made after his election victory. However, recent announcement has bring back the excitement in the industry.

Expert Response

James Butterfill, head of research at CoinShares, expressed surprise at the inclusion of digital assets beyond Bitcoin in the proposed reserve. “Unlike Bitcoin, these assets are more akin to tech investments,” Butterfill said.

“This announcement reflects a more patriotic approach to the broader crypto technology landscape, without necessarily accounting for the fundamentals of each asset,” he added.

Read Also:

Bybit Loses $1.5 Billion in Massive Hack, The Largest Crypto Theft in Hystory

Federico Brokate, head of U.S. business at digital asset investment firm 21Shares, said the move signals a more active government role in the crypto economy.

“This could accelerate institutional adoption, provide greater regulatory clarity, and strengthen U.S. leadership in digital asset innovation,” Brokate stated.

Trump’s bold move signals a shift in U.S. crypto policy, potentially accelerating institutional adoption and solidifying America’s role in the digital asset economy. However, questions remain about the long-term impact of this strategy and how it will shape the future of cryptocurrency regulation.

 

(Raidi/Agung)

Tags: cryptocurrencyDonald TrumpIndonesia newsUnited States
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