President Donald Trump has recently made waves in the cryptocurrency world with the announcement of a groundbreaking strategy that aims to establish the United States as the Crypto Capital of the World. In a bold move to support the digital asset industry, Trump revealed plans for a US Crypto Reserve that will focus on bolstering key cryptocurrencies such as XRP, Solana (SOL), and Cardano (ADA). The president’s proclamation was shared on his Truth Social platform, where he expressed his commitment to elevating the crypto sector after what he described as years of disparagement by the Biden Administration.
“A U.S. Crypto Reserve will elevate this critical industry after years of corrupt attacks by the Biden Administration,” Trump declared in a Truth Social post. His Executive Order on Digital Assets has directed the Presidential Working Group to take steps towards establishing a Crypto Strategic Reserve that includes XRP, SOL, and ADA. “I will make sure the U.S. is the Crypto Capital of the World. We are MAKING AMERICA GREAT AGAIN!” he affirmed in his post.
Furthermore, Trump emphasized the significance of Bitcoin (BTC) and Ethereum (ETH) in the proposed Crypto Reserve, stating in a follow-up post, “And, obviously, BTC and ETH, as other valuable Cryptocurrencies, will be at the heart of the Reserve. I also love Bitcoin and Ethereum!” These statements from the president had an immediate impact on the cryptocurrency market, with Bitcoin surging by 9 percent to $92,857 and Ethereum increasing by 12 percent to $2,477 following the announcement.
The surge in cryptocurrency prices came in response to Trump’s executive order signed on January 23, titled Strengthening American Leadership in Digital Financial Technology, which underscored his administration’s support for blockchain innovation and dollar-backed stablecoins. The order also explicitly prohibited the establishment of a central bank digital currency (CBDC) while calling for further exploration of the concept of a U.S. Crypto Reserve. This idea has been a recurring theme in Trump’s policy proposals, dating back to his 2024 presidential campaign.
Trump’s favorable stance towards the crypto industry has been evident through various actions taken by his administration, including dropping a lawsuit by the Securities and Exchange Commission (SEC) against Coinbase and halting investigations into multiple crypto firms. These pro-crypto policies, combined with promises to create a national Bitcoin reserve and ease regulations, initially fueled a surge in cryptocurrency prices. Bitcoin, for instance, peaked at $109,350 in January 2025 after surpassing $75,000 following Trump’s election victory and increased ETF inflows.
Looking ahead, Trump is set to host the inaugural White House Crypto Summit next Friday, bringing together industry leaders, CEOs, and investors to delve into the future of digital assets. The summit will be overseen by AI & Crypto Czar David Sacks and Executive Director Bo Hines, highlighting the administration’s commitment to engaging with key players in the cryptocurrency space.
In the midst of these developments, Trump’s personal cryptocurrency, $Trump, and the memecoin launched by First Lady Melania Trump, $Melania, have added an element of drama to the crypto landscape. While $Trump experienced a significant drop in value following its debut, $Melania’s entry into the market caused further fluctuations, underscoring the unpredictable nature of the cryptocurrency world.
As the cryptocurrency industry continues to evolve and capture the attention of global leaders, Trump’s latest initiatives signal a significant shift in the United States’ approach to digital assets. With the establishment of a U.S. Crypto Reserve and upcoming events like the White House Crypto Summit, the future of crypto under the Trump administration appears poised for further growth and innovation.