Trump’s announcement of a U.S. Crypto Strategic Reserve may have resulted in a increase in crypto prices with market cap growing over $300 billion under 24 hours.
The Strategic Reserve will include major digital assets such as Bitcoin, Ethereum, XRP, Solana, and Cardano, following which Bitcoin’s price rose over 11% to $94,164, while Ethereum increased by approximately 13% to $2,516.
This comes shortly after the tariff wars which was driving the wider financial market into uncertainty of future business trades amongst the impacted countries globally.
With the introduction of this national reserve in crypto, the new U.S. administration has aligned with its initial promise of accelerating crypto adoption.
This step has positioned the U.S. amongst regions with high levels of crypto advancements. Next move to watch are the reactions from SEC with its ‘Crypto Task Force’ and IRS on this stance on taxations around the same.
The upcoming White House Crypto Summit is expected to provide additional insights into the administration’s plans for the crypto sector.
With this there can be a domino effect amongst other countries who may reconsider their crypto policies with more leniency potentially accelerating international regulatory shifts worldwide.
Ryan Lee, Chief Analyst at Bitget Research
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