President Donald Trump ignited a rally in the cryptocurrency market on Sunday after announcing plans for a U.S. โstrategic reserveโ that would include five major digital assets.
Trumpโs statement, made through social media, reversed some of the recent losses that had shaken investor confidence.
In a post on Truth Social, Trump revealed that the Presidentโs Working Group on Digital Asset Marketsโan initiative he established via executive orderโwas advancing plans for the reserve.
Five Cryptocurrencies Identified for Strategic Reserve
The proposed assets include Bitcoin, Ethereum, XRP, Solana, and Cardano. The announcement triggered a surge in the value of these cryptocurrencies, which had been struggling amid economic uncertainty and regulatory concerns.
David Sacks, a venture capitalist and the White Houseโs AI and Crypto Czar, confirmed that further details would be shared at the White House Crypto Summit on March 7.
The event is expected to host industry leaders, including founders, CEOs, and investors, underscoring the administrationโs focus on digital assets.
Market Awaits Regulatory Clarity as Crypto Prices Recover
The U.S. government already holds approximately $17 billion in Bitcoin, according to Arkham Intelligence. These assets, seized from criminal enterprises, are typically liquidated to support law enforcement efforts or compensate victims.
However, the governmentโs current holdings do not include three of the five cryptocurrencies mentioned in Trumpโs proposalโXRP, Solana, and Cardano.
Despite the renewed optimism, the broader cryptocurrency market has faced headwinds in recent weeks. A combination of tariff concerns and ongoing industry scandals had driven digital asset prices lower.
Analysts suggest that a more defined regulatory framework or indications of Federal Reserve interest rate cuts could provide the catalyst needed for sustained growth.
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