Trump clicks Bitcoin, XRP and Solana and more on the strategic reserve Crypto – here what to know
Topline
President Donald Trump said on Sunday that the United States will create a “strategic coding reserve” that includes large encrypted currencies such as Bitcoin and Ethereum – with the increased encryption prices – the latest effort from Trump to cancel the encrypted currency industry as it has become a major supporter of encryption in recent months.
President Donald Trump speaks with correspondents before going up to one of them in the southern grass … [+]
Main facts
The National Crypting Reserve “will raise this critical industry after years of corrupt attacks” Trump He saidHe added that he directed his administration to “proceed with a strategic coding reserve” that includes XRP, Solana and Ada cryptocurrencies.
Then add a second job Saying The reserve will include “Bitcoin” and Ethereum as “the heart of the reserve”, saying that he “loves” the best cryptocurrency.
Trump’s advertisement on Sunday builds on Executive order Trump issued January 23, directing his administration to create a “working group” to propose an organizational framework on digital assets, which includes the evaluation of “National Digital Assets”.
What is the effect on encryption prices?
Bitcoin prices increased by more than 10 % of the time of Trump’s announcement to more than $ 94,000 early on Sunday afternoon, while ETHEREUM prices increased by more than 13 % by the announcement to the top of $ 2500 early. Trump’s small metal currencies – XRP, Ada and Solana – all increased by at least 20 % after Trump’s announcement.
How will you look “strategic coding reserves”?
It is still not clear the form that the final parameters of any coding stock will appear, but Trump’s executive order indicates that the reserve will be “possible” from the encrypted currency that the federal government seized “through law enforcement efforts.” New York Times male In January, the federal government already has an estimated $ 19 billion in the seized bitcoin currency, which can be held simply to create stock. What remains is whether Trump will also try to get large amounts of new cryptocurrency storage, which is likely to enhance the coding industry and current encryption holders – but it is likely that the approval of Congress is likely to be likely.
More reading
Trump’s order on the first day: a federal stored for Bitcoin? (New York Times)
Trump ascending Bitcoin pushes 4 week (New York Times)
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