US President Donald Trump has revealed plans to establish a crypto strategic reserve, naming Bitcoin, Ethereum, XRP, Solana, and Cardano as the five digital assets to be included.
Trump made the announcement on Sunday via Truth Social, stating that a presidential working group had been directed to push forward the creation of the reserve.
He said the initiative is aimed at strengthening America’s standing in the global digital asset market and boosting the crypto industry.
“A US Crypto Reserve will elevate this critical industry after years of corrupt attacks by the Biden Administration, which is why my Executive Order on Digital Assets directed the Presidential Working Group to move forward on a Crypto Strategic Reserve that includes XRP, SOL, and ADA,” Trump said.
ALSO READ
He reaffirmed his commitment to making the US a leader in the crypto industry.
“I will make sure the US is the crypto capital of the world. We are making America great again! And, obviously, BTC and ETH, as other valuable cryptocurrencies, will be at the heart of the Reserve. I also love Bitcoin and Ethereum!”
In December, Trump had signaled support for the crypto industry, revealing plans for a US bitcoin strategic reserve.
“We’re going to do something great with crypto because we don’t want China or anybody else… but others are embracing it, and we want to be ahead,” he told CNBC.
When asked if the US would set up a bitcoin reserve similar to its strategic petroleum reserve, Trump responded, “Yes, I think so.”
Discover more from News Round The Clock
Subscribe to get the latest posts sent to your email.
