President Donald Trump has announced a plan to establish the United States’ first Strategic Cryptocurrency Reserve (SCR), sending prices for all five of his named digital assets surging.
“I will make sure the U.S. is the Crypto Capital of the World,” Trump declared on Truth Social on Sunday, crediting his January executive order on digital assets as the foundation for the new reserve.
He stated that the SCR would include popular cryptocurrencies such as Bitcoin and Ethereum, as well as lesser-known assets like XRP, Solana’s SOL, and Cardano’s ADA.
The market responded swiftly to the announcement. Bitcoin jumped 10 percent to over $94,300, rebounding from a three-month low of under $80,000 two days prior. By midday Monday, Bitcoin had pulled back but remained above $90,000, while the other four cryptocurrencies also saw gains before experiencing minor corrections….