Newsletter
Donald Trump just made a game-changing move in the crypto world.
The President announced the creation of a U.S. Cryptocurrency Strategic Reserve — a fund backed by taxpayer money, that will hold digital assets like Bitcoin, Ethereum, XRP, Solana, and Cardano. The goal is basically to Position the U.S. as the global hub for crypto.
What went down: the announcement caught the markets off guard, and the reaction was immediate. Bitcoin shot past $94,000, Ethereum climbed over $2,500, and the total crypto market added a cool $300 billion overnight.
Yes, but: reactions to the move were fixed. Crypto boys cheered their potential exit liquidity. Serious thinkers questioned why those specific assets were chosen, and how specifically does a nation state holding these tokens advance cyrypto’s decentralized mission.
But otherwise, Trump’s crypto pivot has some heavyweight backers too. Musk, a long-time crypto advocate, has been actively pushing for deeper integration of digital currencies into the U.S. financial system.
Meanwhile, SEC head Paul Atkins, known for his crypto-friendly stance, is another key player in shaping a more accommodative regulatory approach.
