WEBDESK: United States President Donald Trump has revealed his plans for the Trump Crypto Strategic Reserve. The reserve will include five major cryptocurrencies in a move that will signal an upward trend for digital assets.
These cryptocurrencies are:
- Bitcoin (BTC)
- Ethereum (ETH)
- XRP
- Solana (SOL),
- Cardano (ADA).
The announcement triggered an immediate market reaction, with Bitcoin and other listed cryptocurrencies seeing price surges of up to 62%.
Donald Trump won support from the crypto industry in his 2024 election bid, and he has quickly moved to back their policy priorities. He is hosting the first White House Crypto Summit on Friday, and his family has also launched its own coins. Trump’s aim is to make the U.S. the “Crypto Capital of the World.”
As of now, details on how the Trump crypto strategic reserve will operate remain unclear. Experts have been debating over whether it will require congress approval or if it can be implemented through the U.S. Treasury’s exchange stabilisation fund.
This move marks a significant shift from previous administrations, which focused on stricter crypto regulations to combat fraud and money laundering.
Crypto analysts believe that this move will boost investor confidence. However, long-term growth remains to be seen such as signs that the U.S. Federal Reserve plans to cut interest rates or a clear pro-crypto regulatory framework from the Trump administration.
With the establishment of the Trump Crypto Strategic Reserve, the future of cryptocurrency in the U.S. is taking a new direction, signalling increased institutional recognition and political backing.
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