Former US President and strong candidate for the 2024 elections, Donald Trump, made a statement that had a huge impact on the cryptocurrency markets. Trump announced that he signed a decree to establish the US Crypto Strategic Reserve in order to strengthen the country's digital asset sector. This decision is seen as part of his goal of making the US the "Crypto Capital of the World".
Trump's Crypto Reserve Statement
In his announcement, Donald Trump argued that this area had been seriously damaged due to the "corrupt attacks" carried out against the crypto sector during the Biden administration. Trump, who draws attention with his policies supporting crypto, announced that various digital assets, especially XRP, Solana (SOL) and Cardano (ADA), will be part of this reserve.
Here is an addition. Bitcoin (BTC) and Ethereum (ETH), two giants of the market, will be at the center of the reserve.
Trump: "And of course Bitcoin and Ethereum, like other valuable cryptocurrencies, will be at the center of the reserve. I love Bitcoin and Ethereum too!"
The Presidential Task Force Started
Trump's executive order tasked the Presidential Task Force to establish the US Crypto Strategic Reserve. This is considered one of the biggest steps the US has taken towards digital assets. At a time when regulatory uncertainties continue in crypto markets, such a move could provide great momentum to the sector.
White House Crypto Summit and Statements by Crypto Czar David Sacks
Technology investor David Sacks, one of the names supporting Trump's crypto policies, stated in his speech at the White House Crypto Summit that this move was just the beginning and said, "More to come." Sacks' statements were interpreted as a strong signal that the US would take bigger steps regarding crypto in the coming period.
A Meaningful Message from CZ
Binance founder Changpeng Zhao (CZ) shared a post following Trump's statements and said, "I hope you were able to take advantage of the bottom opportunity." This statement was interpreted as an indication that a rising wave may have begun in crypto markets.
US Crypto Policies and Global Impact
This move by the Trump administration shows that the US considers crypto as a national strategy. During the Biden administration, the SEC and other regulatory bodies imposed strict controls on crypto. However, this new step by Trump may be the biggest sign that the US is completely moving away from its anti-crypto policies and embracing the sector.
The establishment of such a reserve by the US could lead to a major transformation not only in the country but also in global crypto markets. This could strengthen the role of Bitcoin and other crypto assets in the international financial system and contribute greatly to the integration of digital assets into the traditional financial system.
Author: Besim Şen
