US President Donald Trump has revealed the names of five encrypted currencies that he wants to include in a new strategic reserve to make the United States a “world of encryption capital”.
Market prices of the five coins called – Bitcoin, Ethereum, XRP, Solana and Cardano – all jumped quickly after the announcement.
During the Trump’s presidential campaign, he strongly carried out the encryption community. Former US President Joe Biden supervised a campaign of encryption due to fears about fraud and money laundering.
It is not clear how the new stock will work. More information is expected on Friday, when Trump plans to host the first White House encryption summit.
In a social media post on Sunday, Trump said he signed an order, “The Presidential Working Group directed to move forward in a encryption strategy reserve that includes XRP, Sol and Ada.”
About an hour later, he added in another post: “It is clear that BTC and ETH, like other cryptocurrencies, will be in the heart of the reserve.”
The first three currencies called up to 62 % jumped on Sunday.
Bitcoin and Ethereum also jumped with more than 10 % each.
The publications were distinguished by the new upward encryption rate, which has decreased sharply since its decline after its election.
Shortly after he took office in January, Trump signed an executive official to establish a presidential working group charged with proposing new laws and codes.
The command called the group to “evaluate potential creativity and maintain the stock of national digital assets” that could use “cryptocurrencies that have been legally seized by the federal government through law enforcement efforts.”
It is not clear whether creating a new national strategic stock will require a law of Congress.
Trump was a critic of encryption, as he told Fox News in 2021 that Bitcoin was a “fraud”.
But in recent weeks, All of him and his wife Melania Trump have launched their cryptocurrenciesWhich leads to accusations that they are trying to take advantage of the White House policies.
