Bitcoin and Altcoins Price Surge; Trump Unveils his Big "Strategic Crypto Reserve" plan!

According to posts on Truth Social and a report from DailyHodl, Donald Trump stated that the United States plans to form a "strategic crypto reserve" that includes major cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Solana (SOL), and Cardano (ADA). As soon as the news hit, the crypto market went wild—over $100 billion was pumped into the total market value, and it’s honestly incredible to see.

Crypto market reaction to Trump's announcement

As of this writing, the prices of many major cryptocurrencies have increased significantly:

XRP? It jumped 37%
SOL climbed over 24%, which is no small deal.
ADA totally stole the show with a 70% surge
Bitcoin and Ethereum also rose by 10% and 13%, respectively.

A Strategic Crypto Reserve—Trump’s new big policy move?

Donald Trump’s calling this a direct jab at what he says are “the corrupt Biden administration’s attacks on the crypto industry.” He’s dead-set on making the U.S. the “global crypto capital,” and honestly, it’s a bold vision! But here’s the catch—we don’t have the full picture yet on how this reserve’s actually going to come together.

Back in January, Trump signed an executive order kicking things off. He’s put a presidential task force on it, and they’ve got a game plan with three main steps:

30 days to figure out what regulations they’ll need.
60 days to throw some proposals on the table.
180 days to drop the final report.

Final words

Trump’s decision to roll out this Strategic Crypto Reserve feels like a big shift in how the U.S. government’s looking at digital currencies. If implemented, the plan could pave the way for legal acceptance of cryptocurrencies and increase stability in the industry. It could also lead to higher cryptocurrency prices in the near future.

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Sources:

1. trendo

2 .Truth Social

3 . daily hdl