₿ULLISH: Trump Announces US Crypto Reserve with Bitcoin and Altcoins🚀

On March 2, President Donald Trump revealed the assets that will be included in the United States’ new strategic crypto reserve. The reserve will feature Bitcoin (BTC), Ether (ETH), Solana (SOL), Cardano (ADA), and XRP (XRP), with Trump emphasizing that BTC and ETH would form the “heart of the reserve.” In a post on Truth Social, he criticized the Biden administration, claiming that a US Crypto Reserve would elevate the industry after years of attacks.

The announcement immediately sparked a rally in the crypto markets. Bitcoin surged past $94,000, Ethereum saw a rise of more than 11%, and Cardano shot up by approximately 36%. XRP increased by over 24%, while Solana bounced back to $175 after previously hitting lows. Trump’s initial omission of BTC and ETH from the reserve list was corrected in a later post, further cementing their central role in the reserve and contributing to the price movements.

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The announcement of a broader crypto reserve, including altcoins like XRP and Solana, caused Bitcoin’s dominance to slip below 50%. Despite Bitcoin’s price rise, altcoins saw substantial gains. Cardano, which was included in the reserve list, experienced a 60% increase, while XRP rose by 35% and Solana gained 25%. The decision to include altcoins in the reserve raised concerns among some Bitcoin advocates, who argued that a Bitcoin-only reserve would make more sense.

The inclusion of multiple altcoins in the reserve surprised many in the Bitcoin community. Prominent figures like Peter Schiff questioned the rationale for including assets like XRP, while others, such as Jeff Park from Bitwise, criticized the decision as a political misstep. Despite the mixed reactions, the announcement is seen as a significant move for the crypto industry, marking a shift toward greater recognition of digital assets by the US government.

Resources:

Truth Social

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