BTC/USD: Bitcoin Pumps 10% After Trump Drops Names to Get Added to Crypto Reserve

Right after Bitcoin logged its worst month since June 2022, the orange coin got a jolt by the US President. 👀 Bitcoin Rises on ReserveBitcoin prices pulled sharply higher on Sunday after Donald Trump finally announced what many had been waiting for. The creation of a strategic crypto reserve is on its way to become a reality. Bitcoin shot up by 10% to $95,000 on the news but later gave some of that up to trade at $91,000 Monday morning. Besides the flagship token, a bunch of other blue-chip coins also made the cut and are en route to be included into the crypto-centric reserve. It was a good start to March after February’s 21% loss turned out to be the worst since June 2022. 😍 ”I Love Bitcoin and Ethereum!”“A U.S. Crypto Reserve will elevate this critical industry after years of corrupt attacks by the Biden Administration, which is why my Executive Order on Digital Assets directed the Presidential Working Group to move forward on a Crypto Strategic Reserve that includes XRP, SOL, and ADA,” Trump said in a post on Truth Social. “I will make sure the U.S. is the Crypto Capital of the World.” “And, obviously, BTC and ETH, as other valuable Cryptocurrencies, will be at the heart of the Reserve,” he said in a follow-up post. “I also love Bitcoin and Ethereum!” 🔎 Big News or Small News?What does that mean for the industry? A crypto “reserve” is a positive change from the previous expectation of a crypto “stockpile” as it suggests a consistent piling-up of crypto assets for the purpose of holding them right next to other reserve stuff like gold. The biggest gainer on the news was Cardano’s $ADA, which skyrocketed 60%. XRP’s coin $XRP soared more than 30% and Solana $SOL rallied 20%. Ethereum was up about 12% before coming down a little.