Crypto Bazaar added a price of $ 300 billion after President Donald Trump announced the US crypto strategic reserve.
On March 2, the market response came after Trump took the truth socially. Reinforced His commitment to make America the “Crypto Rajdhani of the world”.
His latest executive order directs the President’s Working Group on digital assets to proceed with the establishment of a National Crypto Reserve, including bitcoin (BTC), atherium (ETH), XRP (XRP), Solana (Sol), and Cardano (ADA).
In the last 24 hours, bitcoin rose 8%, broke above $ 93,000, while the atherium jumped 11%. The advantage in other altcoins was very high, an increase of 66%in cardano, solana 20%, and XRP 28%. Crypto.news price according to the tracker, at $ 163.9 billion in market capitalization, XRP overtook the USDT to become the third largest cryptocurrency.
Trump’s plan is different from his first perception of a bitcoin stockpile, in which the US will only keep its current bitcoin holdings. On the other hand, a strategic reserve means an active cryptocurrency accumulation. The Crypto community is divided about this move.
Due to its safety and decentralization, some people say that bitcoin should be the only property in the reserve. Some people worry that a government controlled cryptocurrency reserve can weaken the dollar and be susceptible to future political changes.
The announcement was welcomed by the Republican Senators who saw it as a means for the US to play a leading role in the changing global financial system and unbalanced China’s digital yuan dominance.
Although it has improved seven digits since March 1, the Crypto Fear and Greed remains in the ‘Fear’ zone at 33 despite the increase in the index. Market reaction suggests that traders weigh long -term effects of government participation in cryptocurrency ownership with both enthusiasm and caution.
Investors are ready for the upcoming Crypto Summit, where more details will be revealed, as well as a clear outline for potential policy modification, regulatory updates and reserves.
