Bitcoin Soars as Trump Confirms U.S. Crypto Reserve Plans

Bitcoin surged 20% to $94,266 before stabilizing at $93,303 early Monday after U.S. President Donald Trump reaffirmed plans for a Crypto Strategic Reserve, listing Bitcoin (BTC), Ether (ETH), XRP, Solana (SOL), and Cardano (ADA) as included assets.

Trump announced on social media that his executive order on digital assets directed the Presidential Working Group to move forward with the initiative. While details remain unclear, the move triggered a crypto market rally, with altcoins seeing major gains.

Ethereum climbed 7.8% to $2,434, while XRP skyrocketed 22.2%. Solana added 17%, and Cardano surged nearly 60%, significantly outpacing other cryptos. Meme coins also benefited, with Dogecoin (DOGE) up 10% and $TRUMP gaining 16%.

Trump’s first White House crypto conference on Friday is expected to provide more clarity on the reserve’s structure. However, analysts remain skeptical. Establishing a reserve akin to the Strategic Petroleum Reserve would likely require Congressional approval, which may be difficult given Trump’s focus on government spending cuts.

Despite uncertainties, Trump’s endorsement has boosted market sentiment, reversing last week’s losses amid low liquidity and whale sell-offs. The rally follows Bitcoin’s recent dip below $90,000, which had triggered a wave of investor exits.

As crypto markets react to Trump’s policy shifts, investors are closely watching upcoming developments. If implemented effectively, the Crypto Strategic Reserve could mark a significant milestone for digital assets in the U.S.