Crypto Prices Jump As Trump Touts National Crypto Reserve

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By Andrew Ackerman

Cryptocurrency prices surged Sunday after President Donald Trump heralded the creation of a national “reserve” for a variety of cryptocurrencies, from bitcoin to lesser-known digital tokens.

On his Truth Social platform, Trump said a “Crypto Strategic Reserve” would help ensure “the U.S. is the Crypto Capital of the World.”

That post highlighted several lesser-known digital tokens that would be part of the reserve, including solana, cardano and XRP, a token associated with Ripple. In a second post, Trump added that “obviously, BTC and ETH, as other valuable Cryptocurrencies, will be the heart of the Reserve,” referring to bitcoin — the largest and oldest cryptocurrency — and ether, the token used on the Ethereum network.

Trump’s posts boosted crypto prices, reversing recent declines amid a general downturn in risky assets.

Bitcoin rose about 10 percent to about $94,000 per coin as of late Sunday afternoon.XRP jumped about 32 percent.

Solana, the underlying blockchain platform for what are known as meme coins, including the president’s official $TRUMP token, rose 26 percent. The Trump coin was up more than 34 percent.

Crypto prices can fluctuate wildly, which could put taxpayer dollars at risk if the government acquires bitcoin and other tokens for a reserve and their values ultimately fall. Economists and fiscal experts say a strategic reserve would primarily benefit existing bitcoin owners, who could profit immensely if Trump’s actions boost prices and they opt to sell.

Jason Furman, a former economic adviser to President Barack Obama, was among the skeptics who criticized the idea. “Torn as to whether this is more dumb or more corrupt,” he said on X.

Torn as to whether this is more dumb or more corrupt. pic.twitter.com/EjsLCKEZc0

— Jason Furman (@jasonfurman) March 2, 2025

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This article originally appeared here and was republished with permission.