Trump says Crypto Strategic Reserve will include Bitcoin and Ethereum: Truth Social
Quick Take In a new Truth Social post, Trump said his planned U.S. Crypto Reserve will include Bitcoin and Ethereum “at the heart of the Reserve.” Trump announced Sunday morning that the Reserve would also include Cardano, Solana, and XRP. Trump’s crypto executive order signed in January referred only to the creation of a digital assets “stockpile,” which would have key differences to a reserve.
President Donald Trump clarified on Truth Social that his planned Crypto Strategic Reserve will also have Bitcoin and Ethereum, the two largest cryptocurrencies by market capitalization, "at the heart of the Reserve."
"I also love Bitcoin and Ethereum," Trump wrote .
The clarification comes after Trump's post Sunday morning directing his Presidential Working Group on Crypto to "move forward" on the creation of a "Crypto Strategic Reserve" holding Cardano, XRP, and Solana. The price of all three cryptocurrencies jumped considerably following the announcement.
However, observers were unsure whether the reserve would also hold BTC and ETH, given prior reporting that Trump was considering coins developed in the United States for an "America-first" reserve.
Trump's crypto exeuctive order signed in January refers to a "national digital asset stockpile...potentially derived from cryptocurrencies lawfully seized by the Federal Government through its law enforcement efforts."
However, Trump's posts on Sunday mark the first time he referred to the stockpile as a "Crypto Strategic Reserve." The terms "reserve" and "stockpile" have been used interchangeably by some, but signify key differences.
“From my understanding, a stockpile would mean that the government would hold onto the crypto they have accumulated from various cases whereas a reserve would ultimately be what the Treasury Department determines to purchase and hold," said Rebecca Rettig, chief legal officer at Jito Labs, in a prior interview with The Block .
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
XRP, NEAR, HYPE, XLM suffer major declines, key support levels tested
Semiconductor sectors surge nearly 7% + oil prices cool down, AI computing power launches a counterattack "faces another challenge": tonight’s CPI data becomes the touchstone
The U.S. Bureau of Labor Statistics will release the October Consumer Price Index report on Tuesday, with an expected overall growth rate of 0.3% and a core growth rate of 0.2%. Although the annualized inflation rate will not be included in the report due to last year's government shutdown, the results may show the Federal Reserve's inflation rate remains well above its 2% target. "We must accept failures on both cost and inflation fronts," Chicago Fed President Austan Goolsbee said on Monday.
Schroders Emerging-Market Bond Strategy Moves Onto Solana
The narrative of AI "taking jobs" is overturned: consulting and temp recruitment both rise, October data reveals U.S. employment is increasing, not decreasing
In October, nonfarm payrolls increased by 165,000, far exceeding expectations. The consulting industry reached a record high, and since the launch of ChatGPT, AI-related jobs have seen a net increase of 786,000 positions, showing that employment has risen rather than declined.
Crypto prices
More
