U.S. President Donald Trump announced on March 2 the first five cryptocurrencies that will form a U.S. strategic crypto reserve: Bitcoin, Ethereum, Ripple, Solana, and Cardano. Bitcoin and Ethereum are the two largest cryptocurrencies in the world by market value.
By establishing a crypto reserve, the U.S. becomes a direct stakeholder in the digital asset market, gaining leverage over global policy, adoption rates, transaction standards, and institutional investment. Trump posted on Truth Social, “I will make sure the U.S. is the Crypto Capital of the World.”
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Crypto prices surge following Trump’s announcement
Following Trump’s post, the prices of several cryptocurrencies skyrocketed within hours:
- Ripple (XRP): +32%
- Solana (SOL): +23%
- Cardano (ADA): +63%
However, initial confusion erupted as Trump did not mention Bitcoin or Ethereum in his post, causing speculation on social media. Roughly an hour later, he issued a follow-up statement to clarify their inclusion, leading Bitcoin and Ethereum to experience price jumps:
- Bitcoin (BTC): +11%
- Ethereum (ETH): +13%
The surge was a positive turnaround for the broader crypto market, which had lost $800 billion in total value in recent weeks, according to the Financial Times.
Experts questions strategic value of Altcoin inclusion
Analysts express skepticism about the inclusion of alternative cryptocurrencies like Ripple, Solana, and Cardano.
“Unlike bitcoin…these assets are more akin to tech investments,” said James Butterfill, head of research at asset manager CoinShares, in an interview with Reuters. “The announcement suggests a more patriotic stance toward the broader crypto technology space, with little regard for the fundamental qualities of these assets.”
Trump’s crypto reserve vision has been months in the making
Trump first introduced the idea of a national crypto reserve during the Bitcoin 2024 conference in Nashville, while he was still on the campaign trail. He pledged to “keep 100% of all the bitcoin the U.S. government currently holds or acquires into the future,” alluding to that seized by law enforcement.
According to research firm Arkham Intelligence, the U.S. currently holds about $19 billion worth of Bitcoin alone, with the majority having been seized from criminals. Normally, such assets would be sold to support law enforcement operations and compensate victims rather than form a stockpile.
Shortly after taking office, he signed an executive order that would create a working group that would “evaluate the potential creation and maintenance of a national digital asset stockpile…potentially derived from cryptocurrencies lawfully seized by the Federal Government through its law enforcement efforts.”
More information about the activities of Trump’s working group is to be revealed at the inaugural Crypto Summit at the White House on Friday.
