Bitcoin, Ethereum, XRP, Solana (SOL) and Cardano (ADA) prices have surged after former President Donald Trump hinted at the creation of a US strategic cryptocurrency reserve. The move sparked speculation, sending Bitcoin above $94,000 before retreating slightly.
Markets React to Trump’s Signal
In a Truth Social post, Trump pledged that Bitcoin, Ethereum, XRP, Solana and Cardano would be included in the reserve. However, it remains unclear whether the US government is actually buying into the market or just using crypto seized from criminal activities.
According to Susannah Streeter, director of markets at Hargreaves Lansdown, the lack of details on how the fund will operate has created volatility. However, Trump’s pledge alone could be enough to boost the cryptocurrency market value.
Bitcoin and Altcoin Season
After the price increase, Bitcoin has shown signs of stabilizing and could be headed toward $100,000. However, according to data from CoinMarketCap, altcoin season has yet to really explode. This raises questions about the role of altcoins in the reserve fund.
XRP, one of the coins mentioned, is facing questions about transparency. With 40 billion tokens locked in Ripple’s escrow fund and scheduled to be released, the US government’s purchase of XRP could raise controversy over the benefits to a private company.
Cryptocurrency Reserves: Opportunity or Risk?
The question is: Will other countries follow the US lead and build their own cryptocurrency reserves? China and Russia are two countries that could be watching this move closely.
- China will hold major policy meetings where analysts may see signs of the country diversifying its reserves with cryptocurrencies.
- Russia, which has more than 600 crypto mining companies registered with its tax authorities, may also be looking to accumulate Bitcoin.
Solana: A Top Altcoin Candidate?
Solana has become one of the most talked about coins. Not only because of its strong price performance, but also because the $TRUMP coin – a meme coin associated with the former President – is running on the blockchain. This could make SOL a top altcoin choice for the strategic reserve.
Summary of key points
- Markets react strongly to news of the US strategic crypto reserve.
Bitcoin may soon hit $100,000, but the altcoin season is not yet fully underway.
- XRP faces questions as it could directly benefit Ripple.
- China and Russia could follow this move to deploy their own crypto reserves.
- Solana could be the altcoin that benefits the most from its association with former President Trump.
While there are still many unanswered questions, if this plan is implemented, the crypto market could enter a whole new phase of development.