OAN Staff Blake Wolf
2:14 PM – Sunday, March 2, 2025
President Donald Trump announced on Sunday that the United States will be investing in a “strategic reserve” of at least five cryptocurrencies, resulting in a spike in market value of each currency named.
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President Trump named Bitcoin, Ethereum, Solana, XRP, and Cardano, as the five cryptocurrencies the United States is backing following his January executive order on digital assets.
“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. I will make sure the U.S. is the Crypto Capital of the World. We are MAKING AMERICA GREAT AGAIN!” Trump wrote in a Sunday Truth Social post.
President Trump followed up the initial announcement, adding: “And, obviously, BTC and ETH, as other valuable Cryptocurrencies, will be the heart of the Reserve. I also love Bitcoin and Ethereum!”
As a result, the value of the cryptocurrencies skyrocketed, with Solana seeing a 22% increase and Cardano rising by over 63%.
Bitcoin also saw an over 10% increase in value, along with Etherium seeing an 11% bump following Trump’s announcement.
President Trump’s appointed “A.I. & Crypto Czar” David Sacks also announced late last month that the President is hosting the first ever “White House Crypto Summit” on March 7th, featuring investors and CEO’s from the crypto industry.
“President Trump is keeping his promise to make the U.S. the ‘Crypto Capital of the World.’ More to come at the Summit,” Sacks added.
“This move signals a shift toward active participation in the crypto economy by the U.S. government,” stated Federico Brokate, head of 21Shares, a digital assets investment management firm. “It has the potential to accelerate institutional adoption, provide greater regulatory clarity, and strengthen the U.S.’s leadership in digital asset innovation.”
The crypto community previously threw its support behind Trump during the 2024 election cycle, as former President Joe Biden previously introduced regulations into the industry to “protect Americans.”
Biden previously signed an executive order to allow the United States to regulate cryptocurrencies, while formulating ideas to create a U.S. central bank digital currency.
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