Former U.S. President Donald Trump has revealed the names of the five cryptocurrencies that will be included in the new U.S. cryptocurrency strategic reserve.
These are Bitcoin, Ethereum, XRP, Solana, and Cardano. The values of all five cryptocurrencies immediately surged following the announcement.
Trump aims to make the U.S. “the capital of the world’s cryptocurrencies.” As he announced on his social media platform, Truth, on Sunday, these five coins are set to be included in the new strategic reserve of cryptocurrencies.
Details about the new strategic reserve are still unknown, and more information is expected to be released on Friday when Trump hosts the first Cryptocurrency Summit at the White House.
It is also unclear whether an act of Congress will be required to establish the reserve.
Following Trump’s announcement, the values of the five cryptocurrencies rose, with reports from BBC and Reuters confirming the surge.
The value of the top three cryptocurrencies increased by as much as 62% on Sunday. Bitcoin, the largest cryptocurrency, rose by 11%, while Ethereum increased by approximately 13%.
Trump had expressed his enthusiasm for cryptocurrencies even during his presidential campaign. Immediately after taking office in January this year, he signed an executive order to establish a working group tasked with proposing new laws and regulations for cryptocurrencies.
