Donald Trump stirred the cryptocurrency market by announcing potential stocks in a future US strategic crypto reserve, including bitcoin and several altcoins like XRP, Solana, Cardano, and Ether. His Truth Social post hinted at a shift from traditional currency investments to a reserve that would combat perceived attacks on the crypto sector by the Biden Administration. After his remarks, the selected coins experienced a surge in trading activity and price fluctuations, although they subsequently settled back to previous levels. The motives behind Trump's coin selections raised questions within crypto communities about stability and value in a reserve.
"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," wrote Trump in a Truth Social post on Sunday.
"And, obviously, BTC and ETH, as other valuable Cryptocurrencies, will be the heart of the Reserve. I also love Bitcoin and Ethereum!" he added two hours later, perhaps to appease the tribes he had forgotten to toast.
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