Catenaa, Monday, March 03, 2025- Cryptocurrency prices surged Sunday after President Donald Trump announced the creation of a national “Crypto Strategic Reserve” to bolster the US digital asset market.
In a post on his Truth Social platform, Trump said the reserve would ensure “the US is the Crypto Capital of the World.” He named bitcoin and ether as key assets, along with solana, cardano, and XRP.
The announcement triggered a sharp rally in crypto markets. Bitcoin rose 10% to $94,000, XRP jumped 32%, and Solana gained 26%. The Trump-linked $TRUMP token climbed 34%. The surge reversed recent losses amid broader market uncertainty.
Trump’s proposal has drawn skepticism from economists, who warn that crypto’s volatility could expose taxpayers to financial risk. Former Obama adviser Jason Furman criticized the move, calling it “either dumb or corrupt.”
Supporters argue that the reserve could strengthen the U.S. economy and even help reduce national debt.
Since taking office, Trump has pushed pro-crypto policies. His administration recently ordered a working group to study a national crypto reserve and signaled a shift in the Securities and Exchange Commission’s enforcement stance. The SEC has since paused litigation against major exchanges Binance and Coinbase.
David Sacks, the White House’s crypto and AI czar, announced that further details will be unveiled Friday at a White House crypto summit featuring industry leaders.
