President Donald Trump has announced the creation of a strategic crypto reserve, including Bitcoin and other top cryptocurrencies, in his latest post on Truth Social. This move aims to elevate the critical industry after what he calls years of corrupt attacks by the Biden administration. Trump’s executive order on digital assets directed the government to move forward on the crypto strategic reserve to ensure the US becomes the crypto capital of the world. Following this announcement, crypto stocks surged, with Bitcoin rising 10% to over $94,000. This is the first time Trump has specified his support for a crypto reserve, which involves actively buying and holding crypto assets rather than stockpiling them. The momentum for a strategic Bitcoin reserve grew after Trump’s re-election in November, leading to an all-time high in cryptocurrency prices. However, the momentum seemed to stall after Trump issued an executive order in late January calling for the creation and maintenance of a national digital asset stockpile. Investors are now eagerly watching for more clues about the direction of this reserve plan.
