Trump relieves the crypto slump with new promises of US reserves

Donald Trump could turn around the first drop In digital property since he took a function with some new promises of American strategic creptic reserves.

The President said on Sunday in a social media site of pronouncements social that such a reserve turned on Bitcoin (Btc), ether (El), XRP (XRP), Solana (Salt) and Cardano (Ada). Has not previously written to include digital assets.

New disclosure sent the value of these digital funds, reversing The fall lasted last and sped up last week as Bitcoin has experienced its own The worst correction of the melted 2022.

The price of Bitcoin, which crawled only $ 78,000 last Friday, has increased above $ 94,000 on Sunday. The largest cryptocurrency in the world is currently increased by 8% of the trump, although it is still below its all times of 109,000 days of Trump’s inauguration in January.

The second world’s largest cryptocurrency, ether (El), for 7% is from Trump’s post. Solana (Salt) is 16%. XRP (XRP) more than 20% climbed. Cardano’s Ada Coin (Ada) over 50% increased.

The inclusion of Solana, KSRP and Cardano would be a major incentive for these digital currencies, which do not wear so much support at Wall Street as Bitcoin or Etr.

“The American Crypto reserve will raise this critical industry after multi-year corrupt attacks by the Bidensia,” Trump said in his post.

The president also participates in the Kruptocurnancy Industry. Just before his inauguration, Trump team launched official Meme Coval for 47. President (Abdomen) and one for the first lady Melania Trump (Melanija) On the Blocchain Solani. These coins are 14% and 2%, that is, because Trump’s social post of truth.

Presidential Directory Trump Media & Technology Group (DJT) He also announced plans to start the Bitcoin trading fund under his new brand Truth.fi.

The idea of ​​a strategic reservation is one of the greatest trumps of the greatest promises of the Krupto-in the world, something that passed in the trail of the campaign, while he pledged us “Cripto capital of the planet US” Cripto Capital of the Planet.

But it is still not clear how it would do exactly or whether it will require the act of Congress.

The President signed the executive order of the crypto-focused in January, which called for the newly formed presidential working group on digital assets to “evaluate potentially creation and maintenance of the national digital stock of property.”

It also said the group would propose “criteria for the establishment of such stock, potentially derived from cryptocurries, of which the Federal Government seized its efforts to implement law.”

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“We are still in the very early stages of this, but it is one of the first things to look at is the feasibility of Bitcoin Reserve,” Trump’s AI and Cripto CRAR David bag, said in early February.

More details can be available this Friday at a cryptomite summit, where Trump is expected to deliver speech.

What should be approval of the Congress, is an American program that purchases a crypto-buying program that spoke the Sen. Cinthia Lummis, which would invite the federal reserve purchases more bitcoin using the certificates from the 1970s-era certificate for gold reserves.

“We need to help people understand that short-term instability will happen to Bitcoin – it always has it,” Yahoo finance said last Friday.

“The goal of strategic reserve is to buy or convert current assets in Bitcoin, and then hold them … In this way, we can remove short-term instability from the equation and look at it as a long-term strategic tool.”

Lummis said he had more work to help people understand “the reason why we should have it” and that we can deal with the status of the World US dollar reserve.

“We think they’re very free,” Lummis said, and Yahoo Finance on Friday.

David Hollerith is a senior reporter for Yahoo Finance covering banking, crypt and other areas in finance.

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