Trump Pushes U.S. as Crypto Capital with XRP, SOL, and ADA Reserve
- Trump announces U.S. Crypto Reserve with XRP, Solana, and Cardano to boost digital assets.
- XRP surged 21%, Solana 12.5%, and Cardano 37% after Trumps reserve announcement.
- Executive Order 14178 paves the way for a U.S. national digital asset stockpile.
Donald Trump confirmed through his Truth Social platform that the United States would establish a national strategic crypto reserve containing XRP alongside Solana (SOL) and Cardano (ADA) on March 2, 2025. In January, Trump clarified his executive order to direct the Presidential Working Group on Digital Assets toward implementing this program. XRP, SOL and ADA experienced sharp price increases after the announcement.
Roughly an hour later, Trump disclosed that Bitcoin and Ethereum would join the reserve. Based on Arkham data, the government currently owns substantial amounts of BTC valued at approximately $18 billion which he stressed are crucial. BTC and ETH supporters experienced a wave of surprise by the initial announcements before receiving clarity about their reserve status. The cryptocurrency market experienced positive gains during this period as Bitcoin approached the $90,000 milestone.
Market Response and Industry Implications
The prices of Solana skyrocketed by almost 50%, Cardano soared above 50% while XRP experienced over 20% growth following the announcement. Investors demonstrated their excitement by increasing their purchases of cryptocurrencies in the United States.
Meanwhile, Bitcoin and Ethereum recorded more modest increases of 9% and 11%, respectively. Market analysts believe the cryptocurrency prices increased because of increased trust in Trumps crypto-friendly policy stance that he established during his campaign for the 2024 presidential race.
Trumps plan to establish America as the crypto capital of the world drives this strategic move. According to Trumps administration, they will combat the regulatory resistance that President Bidens administration has created.
The White House Crypto Summit which will take place on March 7, will advance discussions about this topic. The conference will welcome key industry members and government representatives as Trump prepares to speak directly to them, demonstrating federal backing for digital currency.
Background and Legislative Context
Trumps crypto reserve concept emerged during his 2024 campaign, where he first pledged a Bitcoin-focused stockpile. In January, he signed an executive order directing a working group to study a national digital asset reserve, though it stopped short of mandating its creation. Sundays post reframed this as a directive to move forward, introducing a mix of cryptocurrencies beyond just Bitcoin. This shift broadens the scope of earlier proposals.
Senator Cynthia Lummis has long advocated for a Bitcoin reserve, proposing the Treasury acquire one million BTC. During her appearance at the conference, she stated that federal progress has been too slow, prompting states to take initial action.
Senator Lummiss efforts did not succeed, as similar state-level bills failed in Montana and Wyoming because of volatility concerns. Trumps strategy combines different cryptocurrency assets, unlike Lummis Bitcoin-focused approach, and brings a new direction to U.S. digital asset policy.
Read more: https://www.tronweekly.com/trump-pushes-us-crypto-reserve-with-xrp-sol-ada/
Text source: TronWeekly
