Trump: Promotes Cryptocurrency Reserves Through Executive Order, Resulting in Over 75% Increase in Related Assets, Mentioning BTC, ETH, SOL, XRP, and ADA
U.S. President Donald J. Trump issued a statement through his official social media account, announcing plans to promote relevant policies to establish a strategic reserve for cryptocurrencies in the United States. Trump stated that this policy would encompass various cryptocurrencies, including XRP, Solana, and Cardano. One hour later, he also mentioned that Bitcoin and Ethereum are among his favorites, and with the calls from investment advisors, the overall market quickly rebounded.
Trump aims to make the United States the global cryptocurrency capital and to make America great again.
In his statement, Trump criticized the Biden administration’s “corrupt attacks” on the cryptocurrency industry over the past few years, asserting that this new policy would elevate the industry’s status. He said, “After years of corrupt attacks from the Biden administration, the U.S. cryptocurrency reserve will elevate this critical industry, which is why my executive order on digital assets directs the President’s task force to advance a strategic reserve for cryptocurrencies, including XRP, SOL, and ADA. I will ensure that America becomes the world’s crypto capital. We are making America great again!”
An hour later, he added, “Clearly, BTC and ETH, along with other valuable cryptocurrencies, will be at the core of the reserve. I also like Bitcoin and Ethereum!” demonstrating his supportive stance towards these two major cryptocurrencies. Additionally, Trump revealed that the executive order has instructed the President’s task force to accelerate the advancement of the cryptocurrency reserve plan.
Market reaction was enthusiastic, with Polymarket predicting odds soaring.
Trump’s remarks quickly sparked a strong market response. According to the latest data from the decentralized prediction market platform Polymarket, the odds for “Will Trump create a Bitcoin reserve within the first 100 days?” surged from 11% to 22% in a short time, indicating high investor expectations and confidence in Trump’s new policy.
Prices of related cryptocurrencies rose significantly, with Cardano increasing by over 75%.
The cryptocurrencies mentioned by Trump experienced notable price increases. Bitcoin surged from a low of about $86,000 to $91,585, representing an increase of approximately 6.5%. Ethereum’s price rose from a low of about $2,150 to $2,498, reflecting an increase of about 15%. Solana jumped from a low of around $141 to $175, with a remarkable increase of 24%. XRP’s price rose from a low of about $2.2 to nearly $3, marking an increase of about 35%. However, the standout performer was Cardano, with ADA’s price climbing from a low of about $0.64 to $1.14, representing an increase of nearly 75%, making it one of the most significant gainers in this surge.
Risk Disclaimer
Cryptocurrency investments carry a high level of risk, and their prices can be highly volatile, potentially resulting in the loss of your entire principal. Please assess the risks carefully.
