In a move reflecting his shift towards supporting digital assets, US President Donald Trump is preparing to host the first cryptocurrency summit at the White House next Friday, with the attendance of a select group of industry leaders, including founders, executives, and investors, along with members of the presidential task force on digital assets.
According to a statement from the White House, Trump is scheduled to deliver a keynote address during the summit, which will be led by prominent investor David Sacks, known as the "Crypto Czar" in the US administration, while Boo Hines, the executive director of the task force, will manage the event.
Surprising Announcement Boosts Cryptocurrency Market In an unexpected announcement via his platform "Truth Social," Trump revealed his plan to create an American strategic reserve for cryptocurrencies, emphasizing that this step aims to support the industry after what he described as "corrupt attacks" it faced during the Biden administration. He clarified that the reserve will initially include XRP, SOL, and ADA, before updating his post to add Bitcoin (BTC) and Ethereum (ETH) to the list.
The impact of the announcement was immediate on the markets, with the price of Bitcoin rising to $93,000, and Ethereum jumping by 11%, while the cryptocurrencies mentioned by Trump recorded increases ranging from 20% to 30%, with Ripple (XRP) being the biggest gainer at a 30% increase, reaching $2.87.
Is America Paving the Way for a New Era in Cryptocurrency? Analysts believe that this move could open the door to clearer government regulation of digital currencies and may lead to their broader integration into US economic policies in the coming period.
