A post by U.S. President Donald Trump has ignited a rally across the cryptocurrency market, sending the values of several digital assets soaring and reversing a recent downturn.
Trump revealed plans to establish a new U.S. “strategic reserve” for cryptocurrencies, with five digital currencies under consideration for inclusion, sparking investor excitement.
In a post on his Truth Social network, Trump shared that a working group, formed shortly after he took office, is moving forward with the initiative.
The reserve is set to feature smaller cryptocurrencies like XRP, Solana, and Cardano, which saw significant gains following the announcement. XRP surged by approximately 34% by 1:00 pm local time in Washington (1800 GMT), while Solana climbed around 22%, and Cardano skyrocketed by over 63%.
Trump’s second post further fueled the rally, revealing that major cryptocurrencies like Bitcoin and Ether would play a central role in the reserve.
Following this, Bitcoin saw a more than 10% rise, while Ether gained over 12%, sparking widespread optimism in the crypto market.
The surge comes after a period of turbulence in the sector, as recent tariffs and emerging scandals had shaken investor confidence in cryptocurrencies, which are known for their volatility.
This is not the first time Trump and his circle have made waves in the crypto world. Both Trump and his wife, Melania, recently launched their own branded meme coins, raising eyebrows over potential profit-making ventures linked to his political influence.
Additionally, tech mogul Elon Musk, a close ally of Trump and leader of a government efficiency initiative, has consistently used his social media platform, X, to promote cryptocurrencies, adding to the growing influence of high-profile figures in the digital currency landscape.
Trump’s latest comments have undeniably sparked renewed interest and investment in digital currencies, highlighting the powerful role that political leaders and influential figures play in shaping the future of crypto markets.
