In his true social account, Donald Trump promised on Sunday, March 2nd that the US is moving forward with the creation of a US “strategic reserve” in cryptocurrency. It has already been thought of several times since the election swing in 2024 in favor of these assets, but the president is now giving the first concrete details.
According to Trump, the US reserve is made up of “valuable cryptocurrencies.” Among them are XRP, SOL and ADA mentioned in the first message. Trump then added that the most well-known and listed cryptocurrencies, “obviously” “bitcoin” and Ethereum, will also become part of this stockpile, but did not provide details on how they will be structured, evaluated or managed by the US administration.
This did not stop the value of these cryptocurrencies from temporarily rising on March 2nd. After losing steam in recent weeks, Bitcoin and Ethereum recovered between 10% and 15%, but returned significantly on Monday after mainly XRP, SOL and ADA rose up by up to 60% on major exchange platforms.
All three are one of the most valuable US cryptocurrency ventures. XRP is a blockchain token launched in 2013 by San Francisco-based Ripple, developing bank exchange solutions. Sol comes from the Solana blockchain, where the highly speculative ecosystem of mimecoin (a meme based cryptocurrency) essentially rests, with Donald and Melania Trump launching their own cryptocurrency in January. Charles Hoskinson, founder of the Cardano blockchain, where the ADA trades, regularly insists that he is in direct contact with his avid supporter, Trump administration, to fine-tune the US regulatory framework.
The first “CryptoSummit”
These presidential attention signals come when the sector was experiencing the beginning of defeat and sharp revisions. In recent weeks, US foreign policy, marked by a trade war and growing geopolitical tension, has encouraged an environment of unrest that has reduced the price of crypto azette. Bitcoin, for example, fell below $80,000 on Friday. This is the first time that’s happened since November. Speculators have also been stabbed by a variety of notable failures, including the catastrophic launch of Javier Mailey’s cryptocurrency in Argentina and theft of $1.5 billion from the Buit Platform.
However, these issues do not appear to have an impact on the White House. It was announced on Friday that the US president would organize his first “crypto summit” in Washington. According to a press release issued by David Sacks, the special adviser to the president of AI and Cryptocurrencies, the meeting scheduled for March 7th is to bring together business leaders and investors in the sector before Trump is expected to give a speech.
A translation of the original article published in French on Lemonde.fr. Publishers may only be responsible for the French version.
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