Trump Unveils US Crypto Reserve: XRP Rips 33%, Bitcoin Jumps 10%
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President Donald Trump has unveiled plans for a US Crypto Strategic Reserve, sending shockwaves through the cryptocurrency market.
In a post on Truth Social on Sunday, March 2, 2025, Trump announced that Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA) would be included in the reserve.
The announcement triggered a significant rally in the crypto market, with the overall market cap surging by more than $500 billion.
XRP experienced a 33% increase, while Solana jumped 25%.
Bitcoin, which had been declining recently, rebounded 10% to reach $92,900. Some analysts predict that this move could propel Bitcoin to new all-time highs, potentially reaching $200,000 by the end of 2025.
Trump’s decision to include multiple cryptocurrencies in the reserve has sparked debate within the crypto community.
While some applaud the move as a step towards legitimising the industry, others argue that the reserve should focus solely on Bitcoin.
Critics like Jeff Park, head of Alpha Strategies at Bitwise, warn that including altcoins could raise concerns about government favouritism and complicate the initiative.
Coinbase CEO Brian Armstrong suggested that a Bitcoin-exclusive reserve would provide a more straightforward strategy, proposing that if diversification is necessary, a market-cap-weighted index of digital assets could be a more structured approach.
The announcement follows a January executive order that directed a working group to explore a US cryptocurrency stockpile, potentially sourced from federally seized assets.
This has raised questions about the practical implementation of the reserve and its potential impact on the US dollar.
Trump framed the initiative as a response to what he called “years of corrupt attacks by the Biden Administration” on the crypto industry. He emphasised his commitment to making the US “the Crypto Capital of the World”.
The White House is set to host a Crypto Summit on Friday, March 7, 2025, where more details about the strategic reserve are expected to be revealed.
As the crypto world eagerly awaits further information, the market continues to react to this unprecedented move by a sitting US president.
Sources: eToro, MarketScreener
