Trump Backs Bitcoin, Ethereum, And Other Cryptos For U.S. Crypto Reserve

In a groundbreaking move, U.S. President Donald Trump has announced that the country will establish a Crypto Strategic Reserve, incorporating Bitcoin (BTC) and several other cryptocurrencies.
According to Bizwatch Nigeria, Trump revealed that the reserve would include popular digital assets such as Ripple (XRP), Solana (SOL), Cardano (ADA), Bitcoin (BTC), and Ethereum (ETH).
Making America the Crypto Capital
Trump made this announcement via his social media platform, Truth Social, on Sunday night. He expressed his commitment to positioning the United States as a global leader in cryptocurrency.
“I will ensure that the U.S. becomes the Crypto Capital of the World,” he declared, emphasizing the need to support the growing crypto industry.
Criticism of Biden’s Crypto Policies
In his statement, Trump criticized the previous administration led by Joe Biden for what he described as years of neglect and hostility towards digital assets.
“The U.S. Crypto Reserve will strengthen this critical industry after years of corrupt attacks by the Biden Administration. My Executive Order on Digital Assets has directed the Presidential Working Group to move forward on creating a Crypto Strategic Reserve, which will include Ripple (XRP), Solana (SOL), and Cardano (ADA),” Trump stated.
He further emphasized that Bitcoin and Ethereum, as two of the most valuable cryptocurrencies, would play a central role in the reserve.
“I also love Bitcoin and Ethereum!” he added.
Trump’s Bitcoin Promise
During his campaign, Trump made a bold pledge regarding Bitcoin. He assured supporters that if re-elected, his administration would retain 100% of all Bitcoin owned by the U.S. government.
“If I am elected, my administration will ensure that every single Bitcoin currently held or acquired by the U.S. government remains in our possession,” he vowed.
A Crypto-Friendly Advisory Council
In addition to his crypto reserve initiative, Trump promised to establish a Bitcoin and crypto advisory council. This council will comprise industry experts who are passionate about cryptocurrency.
“The rules will be written by people who love your industry, not those who oppose it,” he assured his audience during a campaign speech.
What This Means for Crypto Enthusiasts
Trump’s pro-crypto stance marks a significant shift in U.S. policy towards digital currencies. By integrating cryptocurrencies into a national reserve, his administration aims to foster innovation and growth within the sector.
With this move, the United States could see a more favorable regulatory environment for cryptocurrencies, potentially attracting more investors and businesses into the industry.
As the 2024 election approaches, the crypto community will be watching closely to see how these promises unfold.