President Donald Trump has announced the creation of a US strategic cryptocurrency sanctuary, including Bitcoin (BTC), Ethereum (ETH), Solana (SOL), XRP, and Cardano (ADA). This shows a shift from his previous stance of establishing a Bitcoin-only stockpile. In a true social post, Trump said BTC and ETH were “at the heart of the reserve,” highlighting his goal of making the United States “global crypto capital.”
Trump first proposed the idea of a Bitcoin stockpile at the Bitcoin 2024 conference in Nashville. So he pledged that his administration would pledge that the US government would retain or acquire 100% of all Bitcoin. However, his executive order was signed on January 23rd to direct the president’s working group on digital assets, exploring the feasibility of a broader national crypto protected area while banning the development of central bank digital currency (CBDC). The vague language of orders wants Bitcoin supporters who expected a BTC-only approach.
Following the announcement, cryptocurrency prices have skyrocketed. XRP increased by 33%, Solana’s Sol exceeded 22% and Cardano’s ADA exceeded 60%. Bitcoin rose 10% to $94,425 after falling below $80,000, while Ethereum rebounded at 12%.
Trump’s transition from “stockpiling” to “reserves” suggests that the government can actively acquire digital assets rather than simply retaining existing assets. The move comes after Bitcoin’s worst monthly performance since 2022 and a period of market uncertainty following Trump’s January executive order. The order, referring to the creation of a “digital asset reserve,” raises concern among Bitcoin supporters, and that other cryptocurrencies can be included in the reserve. Riot Platforms executive Pierre Rochard criticized the shift, and podcast host Walker posted it to X.
Trump will hold his first White House Script Summit on March 7th, bringing together industry executives and digital asset working groups to discuss the future of the reserve and cryptographic regulations. The administration’s approach to digital assets will be closely monitored as policy changes could affect the broader US crypto markets and financial regulations.
Following the re-election in November, demand for the National Bitcoin Reserve has increased, driving BTC to an all-time high. However, enthusiasm declined after the executive order language revealed the possibility of including multiple digital assets. Despite initial skepticism, Trump’s latest statement reassured investors. Including BTC and ETH indicates a strong commitment to cryptography.
Federico Brokate, head of US business at 21Shares, calls it a “pivotal moment” that highlights both the role and importance of Bitcoin as a store of value such as Ethereum, Solana, XRP, Cardano in financial infrastructure. Investors are now turning to upcoming summits to make the administration’s crypto strategy even clearer.