President Donald Trump has announced a plan to establish the first U.S. Strategic Cryptocurrency Reserve (SCR), sending prices for all five of his named digital assets surging.
“I will make sure the U.S. is the Crypto Capital of the World,” Trump declared on Truth Social on March 2, crediting his January executive order on digital assets as the foundation for the new reserve.
He said the SCR would include popular cryptocurrencies such as Bitcoin and Ethereum, as well as lesser-known assets such as XRP, Solana’s SOL, and Cardano’s ADA.President Donald Trump has announced a plan to establish the first U.S. Strategic Cryptocurrency Reserve (SCR), sending prices for all five of his named digital assets surging.
“I will make sure the U.S. is the Crypto Capital of the World,” Trump declared on Truth Social on March 2, crediting his January executive order on digital assets as the foundation for the new reserve.
He said the SCR would include popular cryptocurrencies such as Bitcoin and Ethereum, as well as lesser-known assets such as XRP, Solana’s SOL, and Cardano’s ADA.
The market responded swiftly to the announcement. Bitcoin jumped 10 percent to more than $94,300, rebounding from a three-month low of less than $80,000 two days prior. By midday on March 3, Bitcoin had pulled back but remained above $90,000, while the other four cryptocurrencies also saw gains before experiencing minor corrections.
Eric Trump, the president’s son, praised the announcement’s timing, calling it “genius” for being made on a Sunday when traditional markets were closed.
“For the first time, retail investors win,” he wrote on the social media platform X.
The move drew mixed reactions from the financial and crypto communities. Some argued that such a reserve should exclusively hold Bitcoin, given its status as the most established digital asset. Others worry that government ownership of cryptocurrencies could lead to excessive market influence and regulatory overreach.
“Just Bitcoin would probably be the best option—simplest and clear story as successor to gold,” Brian Armstrong, billionaire co-founder of Coinbase, the country’s largest exchange, wrote on X.
Anthony Pompliano, founder and CEO of Professional Capital Management, appeared to share this view.
“Other countries outside the United States are focused on acquiring bitcoin,” he wrote on X. “They don’t see any altcoins having national importance.”
By Bill Pan
