President Donald Trump has announced his intent to create a Crypto Strategic Reserve that includes XRP, SOL, and ADA. The statement was made on TruthSocial.
David Sacks, the Administration’s Crypto and AI Czar, commented on X that Bitcoin and other top cryptocurrencies will be part of the reserve.
Sacks stated:
“President Trump has announced a Crypto Strategic Reserve consisting of Bitcoin and other top cryptocurrencies. This is consistent with his week-one E.O. 14178. President Trump is keeping his promise to make the U.S. the “Crypto Capital of the World.” More to come at the Summit.”
EO 14178 was signed on January 23, 2025. The Order established a Presidential Working Group on Digital Asset Markets, aiming to support “United States leadership in digital assets and financial technology while protecting economic liberty.”
The Working Group will involve various aspects of the Federal government, including the Chairs of the SEC, CFTC, Secretary of the Treasury, and others.
As part of the EO, it was mandated that:
“The Working Group shall evaluate the potential creation and maintenance of a national digital asset stockpile and propose criteria for establishing such a stockpile, potentially derived from cryptocurrencies lawfully seized by the Federal Government through its law enforcement efforts.”
It was not immediately clear if the stockpile could expand beyond seized digital assets.
President Trump lambasted the Biden Administration’s treatment of digital assets as “years of corrupt attacks by the Biden Administration.”
As the Crypto Summit is scheduled for this week, more details on a strategic reserve may be revealed.
Following the news, Bitcoin jumped in value following a decline last week. Bitcoin, while rising over 10% today, still remains below its all-time highs.
XRP increased by over 33% in the past 24 hours and Solana (SOL) by over 25%. ADA or Cardano jumped by a whopping 65%.
The Trump Administration has moved rapidly to change how the government works on many levels at an astounding pace. The revelation of a Crypto Summit and a looming Crypto Strategic Reserve is emblematic of how Trump communicates and moves quickly once he has made a decision.
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