The US President Donald Trump announced the creation of a strategic cryptocurrency reserve for the US, which will include Bitcoin, Ethereum, Ripple, Solana, and Cardano.
In a post on his Truth Social platform, Trump stated that the US cryptocurrency reserve will enhance the sector, which is of vital importance, following years of corrupt attacks from the Biden administration.
"I will ensure the US becomes the world's cryptocurrency capital," he added.
In a later post, Trump clarified: "It is clear that Bitcoin, Ethereum, and other valuable cryptocurrencies will be part of the reserve," but he did not specify how such a reserve would be created or its potential benefits for the country.
Following the announcement on March 2, cryptocurrencies received a strong boost, with Ripple rising by 33%, Cardano increasing by over 60%, and Bitcoin climbing by 10% after falling to a three-month low of under $80,000 on Feb. 28.
Trump is set to host the first-ever cryptocurrency summit at the White House next Friday, with investors closely monitoring the event for more clarity on the future of the industry.
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