Trump announces creation of U.S. crypto reserve

American President Donald Trump Sunday March 02, 2025 announced creation of US Crypto Strategic Reserve

American President Donald Trump Sunday March 02, 2025 announced creation of US Crypto Strategic Reserve.

The move is in line with the reports that the U.S. Congress is expected to prioritize crypto legislation in 2025. Trump also signed the executive order in this regard soon after taking charge as U.S. President.

In an unprecedented move for any head of the state, Trump and his wife Melania Trump also launched their own cryptocurrencies - TrumpCoin and Melania Meme.

"Crypto Capital of the World"

On Sunday, in a post on his Truth Social platform, Trump said that his January executive order on digital assets would establish a reserve consisting of XRP (Ripple), Solana (SOL), and Cardano (ADA), apart from Bitcoin (BTC), and Ethereum (ETH).

"I will make sure the US is the Crypto Capital of the World", Trump wrote adding, "We are making America great again."

The U.S. President however is yet to outline how his proposed crypto reserve would work in practice.

Trump's announcement is a sharp policy shift from the Biden administration, which had cracked down on the crypto industry over concerns about fraud and money laundering. In fact Trump had himself branded Bitcoin as a "scam" during his term in office from 2017 to 2021.

Crypto Prices Jump

Following Trump’s announcement, the overall crypto market volume Monday March 03, 2025 reported a massive jump of 197.62% since the previous day, and stood at $206.77 billion by the evening.

Market reports said, Bitcoin rebounded from a 120-day low of $78,200 to over $90,000. Other altcoins included in the reserve also experienced strong gains.

As per the break-up reported by Coinmarketcap, Bitcoin climbed by 7.42%, Ethereum rose by 4.87%, XRP surged by 16.76%, Solana soared by 12.15% and Cardano swelled by 47.25%.

“Trump just gave the pump that crypto traders have been holding out for,” said Matt Simpson, senior market analyst at City Index.

“Any faith that was lost last week appears to have been restored,” and new highs could be made unless there was another wave of risk-off selling, he said, Reuters reported.

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