Mr. Trump announced 5 virtual currencies in the strategic reserve list, including bitcoin

US President Donald Trump on March 2 announced the names of five digital assets that he plans to include in the US's new strategic digital currency reserve, causing the market value of each to skyrocket.

President Trump wrote on the social network Truth Social that his January executive order on digital assets would create a reserve of currencies that would include bitcoin (BTC), ether (ETH), ripple (XRP), solana (SOL), and cardano (ADA). The names have not been previously announced, according to Reuters.

Bitcoin is the world's largest cryptocurrency by market value

Photo: Reuters

More than an hour later, Mr. Trump added: “And obviously BTC and ETH, as other valuable digital currencies, will be the focus of the reserve.”

Bitcoin, the world's largest digital currency by market value, rose more than 11% to $94,164 by 2 p.m. on March 2, while ether, the second-largest cryptocurrency, rose about 13% to $2,516.

According to CoinGecko, a cryptocurrency data and analytics firm, the total cryptocurrency market increased by about 10%, or more than $300 billion, in the hours after President Trump's announcement.

XRP is the token of digital company Ripple Labs. Reuters reported that Ripple has offered support to influence the US election in November 2024 in favor of the digital currency industry.

“This move signals a shift to active participation in the digital currency economy by the U.S. government. It has the potential to drive institutional adoption, provide greater regulatory clarity, and solidify America’s leadership in digital asset innovation,” Federico Brokate, head of U.S. business at 21Shares, a digital asset investment manager, said in a statement about Trump’s announcement.

Meanwhile, James Butterfill, head of research at asset manager CoinShares, said he was surprised to see digital assets other than bitcoin included in the reserve. "Unlike bitcoin... these assets are more like technology investments," Butterfill commented.

Source: https://thanhnien.vn/ong-trump-cong-bo-5-loai-tien-ao-vao-danh-sach-du-tru-chien-luoc-co-bitcoin-185250303063608961.htm