President Donald Trump announced that Bitcoin (BTC) and Ethereum (ETH), along with other “valuable crypto assets,” will anchor a U.S. strategic crypto reserve. Posting on Truth Social, he named XRP, Solana (SOL), and Cardano (ADA) earlier, but clarified Sunday that “BTC and ETH will be at the heart” of the plan. Timed days before the March 7 White House Crypto Summit, the statement drove Bitcoin up 8% to $90,828 and Ethereum 8.3% to $2,409, with altcoins surging 22%–62%.
The U.S. crypto reserve idea stems from Trump’s January 23 executive order, “Strengthening American Leadership in Digital Financial Technology,” tasking a working group with studying a national stockpile. “A U.S. Crypto Reserve will elevate this industry after Biden’s corrupt attacks,” Trump wrote, vowing to make America the “Crypto Capital of the World.” He added, “BTC and ETH, as other valuable Cryptocurrencies, are core—I love Bitcoin and Ethereum!”
Markets reacted instantly. XRP hit $2.61, Solana $158, and Cardano $0.87, while the crypto market cap swelled by $300 billion, per CoinGecko. X users dubbed it a “Trump pump,” though some flagged Congressional hurdles. The reserve might tap $19 billion in seized Bitcoin, but adding Ethereum and altcoins raises questions—analyst James Butterfill noted their tech focus contrasts with Bitcoin’s store-of-value role.
Since covering crypto’s early days, I’ve seen it evolve from fringe to policy stage. Trump’s pivot from skeptic to champion is striking, yet Elon Musk’s recent “casino” quip on Joe Rogan’s podcast tempers hype. With the summit nearing, chaired by David Sacks, the U.S. crypto reserve’s fate hangs on execution—not just words.
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