‘Will make sure US is crypto capital...’: Donald Trump announces strategic crypto reserve, Bitcoin jumps 9%

President Donald Trump has reaffirmed his pro-crypto stance, announcing plans for a US Crypto Reserve that will support XRP, Solana (SOL), and Cardano (ADA).

In a Truth Social post, Trump declared, “A U.S. Crypto Reserve will elevate this critical industry after years of corrupt attacks by the Biden Administration, which is why my Executive Order on Digital Assets directed the Presidential Working Group to move forward on a Crypto Strategic Reserve that includes XRP, SOL, and ADA. I will make sure the U.S. is the Crypto Capital of the World. We are MAKING AMERICA GREAT AGAIN!”

"And, obviously, BTC and ETH, as other valuable Cryptocurrencies, will be at the heart of the Reserve. I also love Bitcoin and Ethereum!" the President added in a follow-up post.

The cryptocurrency market benchmark indicator, Bitcoin jumped 9 percent to $92,857 (10:50pm IST) after Donald Trump's announcement, compared to $85,166.29 levels at around 8:50 pm (IST), according to Coinmarketcap data. Ethereum jumped by 12 percent to $2,477 from its previous close.

On January 23, Trump signed an executive order titled Strengthening American Leadership in Digital Financial Technology, reinforcing his administration’s support for blockchain innovation and dollar-backed stablecoins while banning any form of a central bank digital currency (CBDC). However, the order did not formally establish a U.S. Crypto Reserve, instead calling for further study on the concept — a proposal Trump has floated since his 2024 presidential campaign.

His administration has already made moves favouring the crypto industry, including dropping an SEC lawsuit against Coinbase and halting investigations into several crypto firms. These policies, coupled with campaign promises like establishing a national Bitcoin reserve and easing regulations, initially fueled a crypto rally. Bitcoin surged past $75,000 on November 6, 2024, following Trump’s election victory and ETF inflows, peaking at $109,350 in January 2025 before entering a downturn.

Next Friday, Trump will host the first-ever White House Crypto Summit, where industry leaders, CEOs, and investors will discuss the future of digital assets. The summit will be chaired by AI & Crypto Czar David Sacks and Executive Director Bo Hines.

Meanwhile, Trump’s personal cryptocurrency, $Trump, launched three days before his inauguration, has disappointed many investors who bought in during its early hype. Adding to the crypto drama, First Lady Melania Trump launched her own memecoin, $Melania, in January — causing her husband’s coin to plummet by 50% upon its debut.