Trump unveils digital assets to be included in ‘crypto strategic reserve,’ sending Bitcoin, his memecoin and others soaring
New York Post3 days ago
Trump's Crypto Reserve Plan Sparks Major Digital Currency Rally
Above: Blockchain virtual digital cryptocurrency Bitcoin, Ethereum, Dogecoin on Feb. 7, 2025, Shanghai, China. Image copyright: CFOTO/Contributor/Future Publishing via Getty Images
The Facts
US Pres. Donald Trump announced plans to include five cryptocurrencies — Bitcoin, Ethereum, XRP, Solana, and Cardano — in a new US strategic reserve via posts on Truth Social, marking a significant shift in federal crypto policy.
Following the announcement, Bitcoin surged 20% from its previous trading levels to reach $93,057, while other named cryptocurrencies experienced even larger gains, with Cardano rising 69% and XRP increasing by 31%.
The announcement follows Trump's January 2025 executive order directing a presidential working group to evaluate the creation of a national digital asset stockpile, with more details expected at the first White House Crypto Summit scheduled for March 7.
The Spin
Republican narrative
The strategic reserve initiative will elevate cryptocurrencies beyond speculative assets, attracting institutional capital and establishing crypto as a core asset class within traditional financial markets, all while positioning the US as a global leader in digital assets.
Democratic narrative
The reserve's proposed funding structure raises significant concerns, as using seized cryptocurrencies from law enforcement actions rather than new purchases would merely represent transfers between accounts, potentially limiting the market impact and raising questions over taxpayer involvement.