President Donald Trump has announced a forward-thinking plan to establish a cryptocurrency reserve fund for the United States, signing an executive order directing the administration to outline a strategy for reserving various cryptocurrencies with the goal of making America the capital of cryptocurrency.
Cryptocurrencies specified to be included in the US reserve fund are Bitcoin, ETH, XRP, SOL, and ADA. This announcement immediately resulted in a surge in cryptocurrency prices, with Bitcoin increasing by 10% to $94,000, XRP up by 33%, ETH by 14%, SOL by 25%, and ADA by an impressive 65%.
The parties involved have set a timeline of 6 months to study how to proceed with the establishment of a cryptocurrency reserve fund.
Source: The Hill
TLDR: President Trump announces plan to establish a cryptocurrency reserve fund for the US, causing immediate price surges in Bitcoin, ETH, XRP, SOL, and ADA.
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