“The US President Provides The First Details About What A Crypto Reserve May Look Like.”, – WRITE: www.coindesk.com
NotBly, Trump Did Not Initially Mention Bitcoin (BTC) OR ETHEREUM (ETH) – The Two Largest Cryptocurrencies by Market Capitalization – in his state Assets As Well. Trump Made The Announcements on Truth Social, his Social Media Platform.
“A US Crypto Will EleVate This Critical Industry After Years of Corrupt Attacks by the Biden Administration, WHICH IS WHY MY Execuptive Order on Digital Assets Directed Directed Directed Directed Directed Directed. Forward on a Crypto Strategic Reserve that Includes Xrp, Sol, and Ada, Trump Stated. “I Will Make Sure the US is the Crypto Capital of the World. We Are Making America Great Again!”
(TRUTH SOCIAL)
Following Trump’s Initial Announcement, XRP, SOL, AND ADA ExperienCed Significant Price Surges. The Price of Ada Soared by More than 63% Within Two Hours After the President’s Post, While Sol Increated by 23% and Xrp by 32%.
While Fans of XRP, Ada and Sol Celebrared the News, Some BTC and Eth Fans Initial Respondeed with A Mixture of Disappeint and Surprise.
Breaking: 🇺🇸 President Trump Snatches Defeat from the Jaws of Victory – AnnunCes He’s Creating A “Crypto Strategic Reserve”, Without Mention of Bitcoin. pic.twitter.com/tpl0zdod7G
– Swan (@swan) March 2, 2025
AROUND AFTER HIS INITIAL POST, The President Clarified That “BTC and ETH, As of Valuable Cryptocurrencies, Will Be At The Heart Of The Reserve.”
Trump has been discussing the Idea of a strategic Crypto Reserve Since His 2024 Presidential Campaign. Soon After Taking Office in January, HE SIGNED An Executive Order Directing A Working Group to Evalate The Formation of a Strategic Crypto Reserve, But The Order Did Not.
The Order Said of the Digital Assets Working Group Should “Evalue The Potential Creation and Maintenance of A National Digital Asset Stockpile.” Trump Said on Sunday That Group Should “Move Forward” with Formally Establishing The Reserve. The working Group Will Host A Summit on Friday with Crypto Industry and Government RepreSentatives.
Sen. Cynthia lummis previoously introduced a bill to create a strategic bitcoin reserve for the US she as sheerst advocated for one at july’s bitcoin nashville Conference, WHERE THERE TRUMPE. The Bill Proped by Lummis would have a authorized the US Treasury to Acquire One Million Bitcoins Over Five Years, Equating to Approximate 5% of The Total Bitcoin Suppply.
A Number of US State Legislatures have already introduced Bills to Create their Own Strategic Crypto Reserves, Thought MOST OF TESE EFFORTS HAVE FAILED TO DAKE OFF.
David Sacks, The White House Crypto and Ai Czar, Is A Limited Partner of Multicoin Capital, WHICH IS INVESTED IN SOLANA, A BLOCKCHAIN ECOSYTEM FOCUSED ON PROVIDING FEES. Sacks said in a 2021 interview that he was “hoodling” Sol, the blockchain’s Native Token, Thought He Said in a Post on X Late Sunday That Held. Trump, The President’s Memecoin, Is Also Built on Solana.
Sacks said on X (Formerly Twitter) that Trump’s Announcement Was “Consistent with his week-one eo” Shortly after Trump’s Posts.
Ripple, Meanwhile, is in the Midst of a Years-Long Leng Battle with The Us Securities and Exchange Commission, WHICH Charged The Company with Selling Xrp-The Native Tokone of the Nat. – As an an unregistered Security Durying Trump’s First Term. In Recent MONTHS, RIPPLE HAS SOUGHT to Increase It Profile in Washington, Including by Contribution Heavily to Fairhake, A Crypto Industry Super Pac, As Well Al.
Update (March 2, 2025, 16:50 UTC): Adds Additional Information and Trump’s Second Post.
Update (March 2, 17:15 UTC): Adds Additional Information and Responses.
Update (March 3, 03:35 UTC): Adds NEW DAVID SACKS Tweet.
