Reuters
- President Donald Trump announced Sunday, March 2, the names of five digital assets he plans to include in a new U.S. crypto strategic reserve, causing their market value to spike. The assets include XRP, Solana (SOL), Cardano (ADA), Bitcoin (BTC) and Ethereum (ETH).
- Following Trump’s announcement, Bitcoin jumped more than 6% to reclaim the $90,000 level, and Ether rallied nearly 10% to around $2,400.
- Trump’s January executive order tasks the Presidential Working Group on Financial Markets with creating guidelines for digital financial technology, and the president is hosting the first White House Crypto Summit on Friday.
Full Story
President Donald Trump announced on Sunday, March 2, the names of five digital assets he plans to include in a new U.S. cryptocurrency strategic reserve. Trump’s announcement caused the market value of the digital currencies to spike.
Posting on Truth Social, the president said his January executive order on digital assets would create a stockpile of currencies that now includes XRP, Solana (SOL) and Cardano (ADA). The names had not been previously disclosed.
Point phone camera here
In a later post he wrote: “And, obviously, BTC and ETH, as other valuable Cryptocurrencies, will be at the heart of the Reserve. I also love Bitcoin and Ethereum!”
Following the social media posts, Bloomberg reported Bitcoin jumped more than 6% reclaiming the $90,000 level. Ether, the second-largest digital token, rallied nearly 10% to around $2,400.
Analysts say the market needs a reason to move higher, such as indications that the U.S. Federal Reserve plans to cut interest rates or a clear pro-crypto regulatory framework from the Trump administration.
Trump’s executive order, signed on Jan. 23, tasks the Presidential Working Group on Financial Markets with creating guidelines for addressing digital financial technology moving forward. This working group includes representatives from the Treasury Department, the Federal Reserve and the Securities and Exchange Commission.
Get up to speed on the stories leading the day every weekday morning. Sign up for the newsletter today!
By entering your email, you agree to the Terms & Conditions and acknowledge the Privacy Policy.
The president is hosting the first White House Crypto Summit on Friday, March 7.
Straight to your inbox.
By entering your email, you agree to the Terms & Conditions and acknowledge the Privacy Policy.
