In a surprising move, US President Donald Trump announced the inclusion of five cryptocurrencies in the US strategic reserve, in a dramatic shift that could reshape the global digital assets scene.
Trump revealed, through a post on social media on Sunday, that Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Solana (SOL), and Cardano (ADA) will be part of the new digital inventory, as per his executive order issued last January. This announcement ignited the markets, with the value of these currencies rising between 10% and 35% during the day's trading.
Trump emphasized that his decision aims to make the United States the "cryptocurrency capital of the world," stressing that his administration is committed to providing a supportive regulatory framework for the industry, unlike the strict approach followed by his Democratic predecessor Joe Biden, where regulatory authorities imposed strict restrictions under the pretext of combating fraud and money laundering.
Despite the new political support, digital markets have witnessed a sharp decline in recent weeks, erasing the gains made by cryptocurrencies after Trump's election victory.
Analysts believe that the market needs strong incentives to rise again, such as easing monetary policy by the Federal Reserve or introducing clear legislation to protect and support the sector.
As part of his continuous support for digital currencies, Trump is preparing to host the first cryptocurrency summit at the White House on Friday, amid expectations of new announcements that may change the rules of the game.
His family also plays a direct role in the scene, after launching their own cryptocurrencies, raising questions about their impact on the market.
Despite the enthusiasm, there are still legal questions about how this digital reserve is established and operates, as experts are divided on whether it requires legislation from Congress or if the US Treasury Department can establish it through an exchange stabilization fund, typically used to manage foreign currency reserves.
At the same time, Trump's task force continues to explore the possibility of using seized cryptocurrencies in law enforcement cases as part of the new reserve.
Is this move the beginning of a new era of American dominance in the cryptocurrency market? The coming days may hold even bigger surprises.