The president of the United States, Donald Trump, appointed XRP, Solana (Sol) and Cardano (ADA) as three assets that will be included in a strategic reserve of the US crypto. UU. On Sunday, providing the first details about how a reserve can be.
In particular, Bitcoin (BTC) and Ethereum (ETH), the two largest cryptocurrencies for market capitalization, were not mentioned in their statement. Trump made the announcement of Truth Social, his social media platform.
“An US encryption reserve will raise this critical industry after years of corrupt attacks of the Biden Administration, so my executive order on digital assets addressed the presidential work group to advance in a cryptographic strategic reserve that includes XRP, Sun and ADA,” Trump said. “I will make sure that the US is the capital of Crypto in the world. We are making the United States again!”
After Trump’s announcement, XRP, Sol and Ada experienced significant price meanings.
Trump has been discussing the idea since his presidential campaign of 2024. Shortly after assuming the position in January, Trump signed an executive order that ordered a working group to evaluate the formation of a strategic encryption reserve, but the order did not explicitly demand that the United States establishes one directly.
Senator Cynthia Lummis previously presented a bill to create a strategic Bitcoin reserve for the United States that he advocated for the first time for one at the Bitcoin Nashville conference of Julio, where the then candidate Trump also spoke. The bill proposed by Lummis would have authorized the United States Treasury to acquire a million bitcoins for five years, which is equivalent to approximately 5% of Bitcoins’ total supply.
Several state legislatures of the United States have already introduced bills to create their own strategic cryptography reserves, although most of these efforts have not been able to take off.
