In a historic announcement made on Sunday evening, President Donald Trump said that US is coming up with a strategic crypto reserve that will consists of major cryptocurrencies- XRP, ADA, SOL, BTC and ETH.
Initially, Bitcoin and Ethereum remained absent from Trump’s announcement but later they were added by him who claimed that he absolutely “loves them” and would “obviously place them at the heart of crypto reserve.”
Following the announcement made by Trump on Truth Social platform, the prices of Bitcoin and Ethereum saw a steep hike within minutes. The price of BTC hiked from $85,207 to $91,929 within one and a half hours.
After the Trump Truth social post, Bitcoin surged by 8% and Ethereum surged by almost 12%, XRP just went crazy and increased by a whopping 31%. XRP flipped ETH in FDV. The announcement came as a much awaited breather for crypto market that has otherwise seen a brutal week in terms of liquidations.
Similarly, the price of Eth also saw a hike from a low of $2183 to a high of $2472 within 1.5 hours.
In his post, President Trump forgot to mention Bitcoin and Ethereum which just created panic and speculations in the community. X was flooded with posts where crypto fans were questioning why he didn’t add BTC and ETH.
Trump took a direct dig at the Biden administration and announced that the President’s Working Group on Digital Assets has been instructed to include XRP, SOL, and ADA in the cryptocurrency strategic reserve.Â
However, after an hour Trump did another post and clarified that BTC and ETH will be part of the U.S. crypto reserve. He said” And, obviously, BTC and ETH, as other valuable cryptocurrencies, will be the heart of the Reserve. I also love Bitcoin and Ethereum!”
Also Read: Trump Announces U.S. Crypto Reserve with XRP, ADA, SOL; BTC and ETH Added Later
