WASHINGTON—President Donald Trump announced Sunday the establishment of a U.S. strategic cryptocurrency reserve, sparking a rally in crypto prices that had been declining after recent record highs, PYMNTS reported.
According to a post on Trump’s Truth Social platform, the reserve could include bitcoin and ether as well as XRP, Solana’s SOL coin and Cardano’s ADA, PYMNTS said.
“A U.S. Crypto Reserve will elevate this critical industry after years of corrupt attacks by the Biden Administration, which is why my Executive Order on Digital Assets directed the Presidential Working Group to move forward on a Crypto Strategic Reserve that includes XRP, SOL, and ADA,” the president wrote. “I will make sure the U.S. is the Crypto Capital of the World.”
“And, obviously, BTC and ETH, as other valuable Cryptocurrencies, will be at the heart of the Reserve,” Trump added in a later post. “I also love Bitcoin and Ethereum!”