Bitcoin (BTC), Solana (SOL), XRP, and Cardano (ADA) saw a surprising spike on Sunday, March 2, 2025, after President Donald Trump tweeted that his administration would establish a U.S. Crypto Strategic Reserve.
The announcement came just hours after the Office of Communications stated that the White House would host its first-ever crypto summit, scheduled for March 7, 2025.
Trump’s stance marks a significant departure from his predecessor, Joe Biden, whose policy direction on digital assets was unclear. The former president had neither fully embraced nor outright rejected cryptocurrency. In contrast, Trump has repeatedly promised to make the U.S. the “Crypto Capital of the World.”
Seconds after Trump’s message on his Truth Social App, White House A.I. & Crypto Advisor David Sacks reaffirmed the administration’s position, stating:
“President Trump has announced a Crypto Strategic Reserve consisting of Bitcoin and other top cryptocurrencies. This aligns with his week-one Executive Order 14178. President Trump is keeping his promise to make the U.S. the ‘Crypto Capital of the World.’ More details will be revealed at the summit.”
Sacks also assured that additional crypto policies would be unveiled at the White House Crypto Summit.
Trump’s Crypto Endorsement Sparks Market Surge
on TS, Trump explicitly stated, “I love Bitcoin.” The president’s preferred cryptocurrencies include Bitcoin, Ethereum, Solana (SOL), XRP, and ADA.
Following his announcement, Cardano (ADA) surged by 30% within minutes. Ethereum (ETH), Bitcoin (BTC), and Solana (SOL) also experienced similar spikes at the time of publication. SOL, in particular, jumped more than 15% following the announcement of the U.S. Crypto Reserve and the executive order supporting it.
Infomediang News observed that Bitcoin surged by 10%, surpassing $94,000 following Trump’s tweet.
Ripple CEO Criticizes Biden’s Crypto Policies
Meanwhile, major crypto stakeholders have praised Trump for his strong support of a “crypto economy.” Ripple CEO Brad Garlinghouse, at the time of publication, criticized Joe Biden’s administration for its indecisive stance on cryptocurrency, calling it “very broken thinking.”