Trump's Crypto U-Turn: Unveiling the U.S. Digital Asset Reserve

Donald Trump, former President, made a public declaration of setting up a U.S. Crypto Strategic Reserve covering Bitcoin, Ethereum, Ripple, Solana, and Cardano, in what is an obvious turnaround on digital currencies. Announced March 2, 2025, via Truth Social, the project hopes to make America the "Crypto Capital of the World," as Trump had signaled in reversing the "corrupt attacks" Trump had outlined as made by the Biden Administration on the sector. Legalized through a January 2025 executive order, which directed the Presidential Working Group on Digital Assets to develop policy for constructing the reserve.

The news triggered a broad market surge, with Bitcoin and Ethereum going up 9% and 12%, respectively, while Ripple increased more than 30%, and Solana and Cardano increased 21% and 61%, respectively. In the effort, the White House is to host its first crypto summit on March 7, and industry players and policymakers, in which Trump will make an appearance. Designed as a digital asset strategic reserve, like the U.S. Strategic Petroleum Reserve, the Crypto Strategic Reserve will be used to support the economy or supply chain disruption, an essential embracing of cryptocurrencies as a part of Trump's overall economic policy