In a surprise announcement, U.S. President Donald Trump revealed plans for a “Crypto Strategic Reserve”, sending cryptocurrency prices soaring before a slight pullback on Monday morning. The initiative, which would see the U.S. government acquire and hold various digital assets, is being hailed by some as a landmark moment for crypto adoption, while others remain skeptical of its long-term impact.
Crypto Prices Surge on Trump’s Announcement
Trump made the declaration on social media Sunday, stating that his administration is working to create a national crypto reserve featuring XRP, Solana, and Cardano, in addition to Bitcoin and Ethereum—the two most dominant cryptocurrencies. The move immediately drove up prices:
- Bitcoin surged past $90,000, recovering from a dip below $80,000 last week.
- XRP, Solana, and Cardano saw massive spikes, though prices stabilized by Monday morning.
Trump’s son, Eric Trump, also weighed in on social media, saying the surge validated his prior advice to invest in crypto. “Hopefully, I made someone’s life just a little bit better,” he posted.
A Shift in U.S. Crypto Policy
During his campaign, Trump pledged to create a “strategic national Bitcoin stockpile”, which would include Bitcoin previously seized by the U.S. government. Sunday’s announcement marked his first public endorsement of holding a diversified crypto portfolio, signaling a shift in federal policy toward digital assets.
The White House has yet to release specific details, including:
- How much cryptocurrency the government plans to acquire
- The timeline for purchases
- Whether additional digital assets will be included
Political and Industry Reactions
Trump has positioned himself as a champion of the crypto industry, frequently attacking the Biden administration’s regulatory crackdown on digital assets. His administration has already paused or ended several high-profile enforcement actions by the Securities and Exchange Commission (SEC), a move widely welcomed by crypto advocates.
However, Trump’s growing ties to the industry have drawn criticism. Some industry insiders have questioned his motives, particularly after the failure of a personal meme coin he launched before taking office. Additionally, the collapse of crypto coins linked to First Lady Melania Trump and Argentine President Javier Milei, along with a major exchange hack allegedly tied to North Korea, have cast doubts on crypto’s stability.
Crypto influencer Dave Portnoy voiced his concerns last week, asking, “Why is crypto in the toilet if Trump is crypto king?”
Upcoming “Crypto Summit” at the White House
Trump’s latest announcement comes ahead of a White House Crypto Summit set for Friday, where he is expected to meet with industry leaders to discuss the future of digital assets in U.S. financial policy.
The Debate: Strategic Asset or Risky Gamble?
Proponents argue that a government crypto reserve would:
✅ Diversify national assets and reduce reliance on traditional financial instruments
✅ Hedge against inflation and financial crises
✅ Position the U.S. as a leader in digital finance
Critics, however, warn that cryptocurrencies are too volatile to serve as a reserve asset, citing frequent market crashes and security risks.
With Trump’s policies continuing to shape the future of crypto regulation, all eyes are on Friday’s Crypto Summit, where more details may emerge on how the administration plans to navigate the rapidly evolving digital economy.
