President Trump plans to include XRP and other crypto assets in cryptocurrency reserves; Bitcoin and Ethereum are at the core

On the 3rd, US President Trump revealed that he had ordered the consideration of a cryptocurrency reserve in connection with the executive order on cryptocurrencies that he signed shortly after taking office. He also announced that the cryptocurrency reserve would include XRP, Solana (SOL), and ADA (ADA) in addition to Bitcoin (BTC) and Ethereum (ETH).

The series of announcements was made on President Trump's official SNS, "Truth Social." He said, "The US cryptocurrency reserve will develop this important industry after years of corrupt attacks by the Biden administration." At that time, he revealed his intention to include XRP, Solana, and ADA in the cryptocurrency reserve.

Although he did not mention Bitcoin or Ethereum at first, he later revealed that both stocks would be included, and mentioned that "they will be the core of the reserve." He then wrote, "I also love Bitcoin and Ethereum!"

Following President Trump's announcement, the cryptocurrency market has risen across the board. In particular, ADA recorded an increase of more than 60% from the previous day at one point, making it the most popular stock among those revealed to be included in the cryptocurrency reserve.

On the 7th of this month, a "Cryptocurrency Summit" will be held by a working group established by President Trump's executive order. The summit will be held at the White House and will be attended by government officials and those involved in the cryptocurrency industry.

It has also been revealed that President Trump will be giving a speech at the summit. In addition to once again expressing the US's stance on cryptocurrencies, he is expected to talk about the trends in related regulations, which are already accelerating. Given President Trump's post, there is a possibility that he will also mention cryptocurrency reserves.

On the other hand, there were some voices of disappointment regarding the presidential order signed immediately after taking office, so depending on the content of the speech, volatility in the cryptocurrency market may increase again.

Reference:Posted by President Trump
Image: Shutterstock

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