Trump Mentions "Strategic Reserve Push"... Virtual Assets Soar 66.44%

"Includes Bitcoin, Ethereum, Ripple, Solana, and Cardano"
Ethereum rises by 14.5%, Ripple surges by about 34%
Cardano skyrockets by 66.44%

U.S. President Donald Trump announced that he will make the United States the global capital of virtual assets (cryptocurrency) and push for a strategic reserve of virtual assets.

Yonhap News

On the 2nd (local time), President Trump posted on his social media platform Truth Social, "The U.S. virtual asset reserve will uplift this industry, which has been in crisis following years of corrupt attacks by the Biden administration," adding, "This is why I directed the task force to promote a strategic reserve of virtual assets through an executive order on digital assets." He further stated that the strategic reserve of virtual assets will focus on Bitcoin (BTC) and Ethereum (ETH), and will also include Ripple (XRP), Solana (SOL), Cardano (ADA), among others.

President Trump also emphasized, "I make it clear that I will make the United States the global capital of virtual assets," and added, "We are making America great again."

Following President Trump's announcement, virtual assets have surged simultaneously. According to CoinDesk, as of 6 p.m. that day, the price of Bitcoin rose 10.15% compared to 24 hours earlier, reaching $94,850 (approximately 138.6 million KRW). Ethereum increased by about 14.5% to $2,540.34 (approximately 3.71 million KRW), Ripple rose nearly 34% to $2.94 (approximately 4,300 KRW). Solana climbed about 24% to $178 (approximately 260,000 KRW), and Cardano skyrocketed 66.44% to $1.10 (approximately 1,600 KRW). Domestic virtual asset prices also showed an upward trend.

Previously, the virtual asset industry argued that by stockpiling virtual assets such as Bitcoin and generating profits, it would help reduce the United States' national corruption, which amounts to $36 trillion (approximately 5,261 trillion KRW), and that when the global economy eventually operates on virtual assets, the U.S. could gain an economic advantage.

Donald Trump, President of the United States. Photo by Yonhap News

During his first term, President Trump took a negative stance, mocking virtual assets as a "fraud full of crime," but his attitude shifted to a more favorable one after running for re-election. In July last year, he promised to foster the related industry during a speech at the "Bitcoin 2024 Conference," and in an online discussion in September of the same year, he emphasized the importance by saying, "If the U.S. does not engage in (virtual asset business), China and other countries will."

Additionally, President Trump signed an executive order shortly after his inauguration in January to establish a virtual asset task force. The task force is expected to submit a report on evaluating the strategic reserve of virtual assets at the national level and regulatory easing measures. He also plans to deliver a speech at the "Virtual Asset Summit" scheduled for the 7th, outlining plans to promote virtual assets.