Bitcoin and Ethereum Will “Be at the Heart” of US Crypto Reserve: Trump

Highlights:

• Trump confirmed the inclusion of Bitcoin and Ethereum in the US Crypto Strategic Reserve.
• Bitcoin dominance drops below 50% after Trump includes altcoins in crypto reserve.
• The crypto market hits $3.07 trillion, fueled by Trump’s pro-crypto stance and excitement. 

President Donald Trump clarified on Truth Social that his planned Crypto Strategic Reserve would also include Bitcoin (BTC), Ethereum (ETH), and other valuable cryptocurrencies. The statement followed his announcement that XRP, Solana (SOL), and Cardano (ADA) would be included in the national digital asset reserve.

More than an hour later, Trump added:

“And, obviously, BTC and ETH, as other valuable Cryptocurrencies, will be at the heart of the Reserve. I also love Bitcoin and Ethereum.”

Trump’s Commitment to a National Bitcoin Reserve

Trump remains committed to establishing a national Bitcoin reserve, one of his key crypto promises. At the Bitcoin 2024 conference in Nashville, Tennessee, Trump pledged to create a “strategic national Bitcoin stockpile.” During his keynote speech, he stated that if elected, his administration would keep all Bitcoin the government owns. He also promised to retain any Bitcoin acquired in the future.

Donald Trump signed an executive order on Jan 23 directing the Working Group on Digital Assets to study the feasibility of a “digital asset stockpile “and explore a regulatory framework for stablecoins. The order also blocked research and development of a central bank digital currency (CBDC) in the U.S. After the Jan. 23 order, Bitcoin supporters expressed frustration over its unclear wording and the possible addition of other digital assets.

Amid rising expectations for U.S. adoption, several public companies have started adding Bitcoin to their reserves. Meanwhile, state-level initiatives aim to permit State Treasurers to invest public funds in Bitcoin and other digital assets.

The latest announcement reinforces this commitment. Additionally, Trump will host the first White House crypto summit on March 7. The event will bring together industry executives and the Digital Asset Working Group to discuss the future of U.S. crypto regulations.

Bitcoin dominance fell from 55.4% to below 50% after Trump announced XRP, Solana, and Cardano in the Crypto Strategic Reserve. Later, he confirmed on Truth Social that Bitcoin and Ether would be “at the heart of the Reserve.” However, the inclusion of altcoins disappointed some Bitcoin supporters.

Crypto Market Hits $3.12T as BTC, XRP, ETH, SOL, and ADA Surge

The total crypto market cap has soared to $3.12 trillion, gaining nearly 10.30% in 24 hours. Trump’s pro-crypto stance is fueling excitement. The community is speculating about a potential bull run that could last for weeks.

Bitcoin continues to dominate, rising 9.35% to $93,844 in a day. Its market cap surged 9.09% to $1.86 trillion, with $60.6 billion traded in 24 hours.

Ethereum is gaining momentum, rising 12.04% in a day to $2,481. Its market cap has grown 12.04% to $299.22 billion. Trading volume surged 128.44% in 24 hours, reaching $36.53 billion.

XRP is surging, climbing 32.20% in a day to reach $2.87. Its market cap now stands at $166.85 billion. Trading volume has skyrocketed 445.07% in 24 hours, reaching $17.96 billion.

Meanwhile, Solana and Cardano are also making massive gains. SOL surged 23.48% to $175.30, pushing its market cap to $88.86 billion. Trading volume reached $8.43 billion. ADA soared 71.37% to $1.11, with a $39.3 billion market cap. Its trading volume skyrocketed 1302% to $8.23 billion.