March 3 (UPI) — President Donald Trump has announced that the United States will create a strategic crypto reserve that will hold Bitcoin, Ethereum, XRP, Solana and Cardano.
Trump made the announcement Sunday on his Truth Social media platform, more than a month after he signed the Strengthening American Leadership in Digital Financial Technology executive order, which created a presidential working group to consider the creation “of a national digital asset stockpile.”
“I will make sure the U.S. is the Crypto Capital of the World,” Trump said in his post. “We are MAKING AMERICA GREAT AGAIN.”
He initially said the reserve would house XRP, Solana and Cardano, but in a separate post published about an hour later, he clarified that “obviously, BTC and ETH, as other valuable Cryptocurrencies, will be the heart of the Reserve. “
“I also love Bitcoin and Ethereum!”
Though initially skeptical about cryptocurrencies, Trump embraced the digital currency during his 2024 campaign and has created what some analysts have called a crypto-friendly Cabinet.
He has appointed venture capitalist and Elon Musk associate David Sacks to be the new so-called artificial intelligence and crypto czar.
Controversially, Trump and his wife, Melania Trump, each launched their own cryptocurrency ahead of the Jan. 20 inauguration.
The announcement also comes ahead of Trump hosting the first-ever White House Crypto Summit on Friday.
The summit was announced late last week in a statement to UPI that said “prominent founders,” CEOs and investors from the crypto industry will be in attendance.
The Trump administration has repeatedly attacked the Biden administration over its more reserved stance on cryptocurrency and its embrace of digital assets marks a shift in U.S. policy, as former President Joe Biden sought to crack down on corruption and crimes facilitated through the new currency technology.
