Bitcoin Surges as Trump Hints at Crypto Reserve Before White House Summit

Bitcoin rebounded on Thursday, climbing 6.2% to $92,532.3 amid growing speculation that U.S. President Donald Trump will unveil plans for a strategic crypto reserve. This follows Trump’s recent trade concessions on Canada and Mexico, while tariffs on China remain intact, fueling a cautious risk appetite in global markets.

The flagship cryptocurrency recovered from last week's sub-$80,000 lows, which were triggered by fears of slowing U.S. growth and escalating trade tensions. While Trump’s previous remarks on a crypto reserve had limited market impact, anticipation is building ahead of the White House’s first crypto summit.

U.S. Commerce Secretary Howard Lutnick revealed that Trump will announce further details about the Bitcoin reserve on Friday. Trump has previously listed Bitcoin, Ether, Solana, Cardano, and XRP as key assets for the reserve but has not clarified whether it will be established via executive order or Congress. An executive order would restrict available funding, while congressional approval may face opposition due to the administration’s focus on reducing government spending.

Despite this uncertainty, crypto markets responded positively. Ether rose 6.4% to $2,319.80, while XRP gained 3.9% to $2.5276. Solana and Cardano added 5.7% and 2.3%, respectively. Meme tokens also rallied, with Dogecoin jumping 9.1% and $TRUMP rising 5.6% from near-record lows.

Bitcoin’s rally mirrored gains in global equities, as investor sentiment improved ahead of Trump’s summit. With regulatory clarity and potential government backing on the horizon, the crypto market is watching closely for further developments.