The cryptocurrency market skyrocketed after U.S. President Donald Trump announced plans to include Bitcoin and other cryptocurrencies in the national strategic reserve.

Bitcoin and many other cryptocurrencies have skyrocketed thanks to the move to put them into the national reserve fund by the administration of US President Donald Trump. Photo: Reuters.
According to Reuters, on March 2 (U.S. time), President Trump revealed the names of three cryptocurrencies that will be included in the U.S. strategic reserve. Immediately after the announcement, the prices of these assets surged dramatically compared to the rest of the market. Trump stated that an executive order on digital assets would establish a reserve containing XRP (Ripple), SOL (Solana), and ADA (Cardano).
These assets have been classified by the investor community as “American coins” since SOL, XRP, and ADA were all created by companies based in the United States.
Photo: Reuters.
According to CoinMarketCap, this group of “Made in America” cryptocurrencies saw a 15% increase in value and a 30% jump in trading volume over the past 24 hours. These gains significantly outpaced Bitcoin and the broader market, with the three coins mentioned by Trump experiencing the most substantial volatility.
- XRP surged to $2.85, marking a 32% increase from the previous day.
- Solana (SOL) rose 25%, reaching $172 per coin.
- Cardano (ADA) saw the biggest boost, skyrocketing 66% to hit $1.04.
About an hour later, Trump expanded the list to include Bitcoin (BTC), Ethereum (ETH), and “many other valuable cryptocurrencies” as part of the reserve. Bitcoin’s price jumped over 11%, surpassing $94,000 by 6:00 AM on March 3, while Ethereum rose approximately 13% to $2,516.
Federico Brokate, head of U.S. trading at 21Shares, stated that this move signals a shift toward active U.S. government participation in the crypto economy.
James Butterfill, director of research at CoinShares, expressed surprise that assets other than Bitcoin were included in the reserve. He noted that, unlike Bitcoin, these cryptocurrencies are more akin to technology investments rather than decentralized money.
This announcement comes as a much-needed boost for the crypto market after a disastrous week. Prior to this, panic spread among investors due to the Bybit exchange hack, new U.S. tariffs on European goods, and outflows from Bitcoin ETFs.
According to Reuters, Trump ordered the creation of a Strategic Digital Reserve as part of a broader initiative to position the U.S. as the world’s cryptocurrency capital. His 2024 campaign has gained significant support from the crypto industry, in stark contrast to his Democratic predecessor, whose administration cracked down on crypto to combat fraud and money laundering.
Trump is set to host a cryptocurrency summit at the White House on March 7. Notably, both the president and first lady have previously launched their own memecoin.
Geoff Kendrick, an analyst at Standard Chartered, predicts that Bitcoin could reach $500,000 before Trump leaves office, a significant jump from its current all-time high of $109,071.
However, legal experts are debating whether Congressional approval is required to establish the reserve. Some suggest it could be created through the Treasury Department’s Exchange Stabilization Fund, which is typically used for buying or selling foreign currencies.
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