Bitcoin traded more than 20% with respect to the minimum of last week and several other cryptocurrencies than the president of the United States, Donald Trump, said that it would be included in a new strategic reserve of the United States also joined abruptly.
Trump said in a public publication that his January executive order on digital assets would create a reserve of coins that include Bitcoin, Ether, XRP, Solana and Cardano. The names had not been previously announced.
Bitcoin and Ether will be in the heart of this reserve, he published on Sunday.
The post sent the largest cryptocurrency in the world for a fifth of the minimum of November that was quoted on Friday, helping to turn the feeling in a file that has slid since mid -January in disappointment that Trump has not followed the promises to regulation.
It was the last time he quotes around $ 93,057, compared to $ 78,273 on Friday.
Ether increased 10% since the closing of Friday and was the last one by $ 2,450, XRP increased by 31%, 15% solana and Cardano increased 69%.
“Trump has just given the bomb that cryptographic merchants have been waiting,” said Matt Simpson, a senior market analyst at the City Index.
“Any faith that was lost last week seems to have been restored,” and new maximums could be made unless there was another risks sale wave, he said.
Chris Weston, Chief of Research of the Australia corridor online Pepperstone, said it was possible that the concentrator extends to the first Crypto Summit of the White House that Trump organizes on Friday, with the risk that life in other markets could weigh about the feeling.
While Wall Street closed more on Friday, the recent sale of great technology potholes such as Nvidia has eroded confidence in Bitcoin, which some see as an alternative technological proxy.
Bitcoin fell more than 17% in February, marked its highest monthly percentage of fall since June 2022 and lost more than a third of its price since it exceeded $ 105,000 in early January.
His concentration from Trump’s November elections was stimulated by the optimism that the friendly president with cryptography would defend a strategic Bitcoin fund and end the repression of the previous Joe Biden administration against the industry.
But beyond a large number of appointments of friendly officials with cryptography when Trump assumed the position, so far there has been little concrete news about that policy for investors.
“While this announcement has significantly increased prices, it has also generated concerns,” wrote IG Market Tony Sycamore.
Financing for cryptocurrency purchases in the reserve could come from US taxpayers or cryptocurrencies in the asset will be seized in the actions of application of the law, he said.
“The latter is not as optimistic as it simply represents a transfer between accounts instead of new purchases that enter the market.”
