In a move poised to reshape the cryptocurrency landscape, U.S. President Donald Trump announced on Sunday the establishment of a U.S. Crypto Strategic Reserve, incorporating five major digital assets: Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA). This revelation triggered immediate and substantial surges in the values of these cryptocurrencies.

In a post on Truth Social on March 2, U.S. President Donald Trump announced that his administration is forming a U.S. Crypto Strategic Reserve, naming three digital assets—XRP, Solana (SOL), and Cardano (ADA)—as part of the initiative. The announcement led to an immediate surge in crypto prices.

More than an hour later, Trump followed up with another post, expanding the list to include Bitcoin (BTC) and Ethereum (ETH), stating: “And, obviously, BTC and ETH, as other valuable Cryptocurrencies, will be at the heart of the Reserve.”

The market's response was swift. Bitcoin, the world's largest cryptocurrency by market value, experienced an approximate 11% increase, reaching around $94,744. Ethereum saw a similar uptick of 8.3%, trading at $2,409. Notably, XRP, Solana, and Cardano experienced even more pronounced gains, with price jumps ranging from 20% to 50%.

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This announcement comes on the heels of a challenging period for the cryptocurrency market. In February, Bitcoin recorded a 17.5% decline, marking its largest monthly loss since June 2022. Factors contributing to this downturn included global economic uncertainties and significant security breaches within major crypto exchanges

The introduction of the Crypto Strategic Reserve signifies a pivotal shift in U.S. policy towards digital assets, reflecting the administration's intent to integrate cryptocurrencies into the broader financial system. As the initiative unfolds, stakeholders await further details on its implementation and regulatory implications.