US President Donald Trump revealed the names of five cryptocurrencies he says he would like to be included in a new strategic reserve to make the United States “the capital of the cryptographic world”.
The market prices of the five rooms he appointed – Bitcoin, Ethereum, XRP, Solana and Cardano – all quickly jumped after the announcement.
During Trump’s presidential campaign, he aggressively courted the cryptographic community. Former American president Joe Biden had supervised a repression against crypto due to concerns about fraud and money laundering.
We don’t know how the new stock will work. Friday, more information is expected when Trump plans to welcome the first crypto summit in the White House.
On Sunday, in an article on social networks, Trump said that he had signed a prescription that “ordered the presidential working group to move forward on a cryptographic strategic reserve which includes XRP, Sol and Ada”.
About an hour later, he added in another article: “And, obviously, BTC and ETH, like other precious cryptocurrencies, will be at the heart of the reserve.”
The first three pieces he named jumped 62% on Sunday.
Bitcoin and Ethereum also jumped more than 10% each.
Messages have marked a new upward turn for cryptography prices, which had dropped sharply since its bite after its election.
Shortly after taking office in January, Trump signed a manager to create a presidential working group responsible for offering new laws and regulations of Cryptos.
The ordinance called on the group to “assess the potential creation and maintenance of a national stock of digital assets” which could use “legally seized cryptocurrencies entered by the federal government thanks to its efforts to apply the law”.
It is not clear if the creation of a new national strategic stock would require an act of congress.
Trump had previously been a crypto critic, telling Fox News in 2021 that Bitcoin is a “scam”.
But in recent weeks, he and his wife Melania Trump have launched their own cryptocurrencies, leading to accusations that they are trying to take advantage of his White House policies.
