In a groundbreaking announcement on Sunday, Bitcoin (BTC) experienced a significant surge, crossing the $91,000 mark for the first time in recent weeks. This monumental rise followed U.S. President Donald Trump’s declaration of strategic reserves for cryptocurrencies, marking a pivotal moment for the digital asset landscape.
Initially, President Trump identified several cryptocurrencies to be included in the reserve, namely XRP, Solana (SOL), and Cardano (ADA). He later expanded this list to include Bitcoin (BTC) and Ether (ETH), further solidifying the U.S. stance on cryptocurrency integration.
XRP saw monumental gains, jumping 31% in just 24 hours to trade around $2.80. Meanwhile, both ADA and SOL experienced impressive rises, with ADA crossing above $1 and SOL trading above $160, each seeing gains of over 20% by the end of the day.
Bitcoin’s own 6% increase allowed it to break free from the confines of the $80,000 to $84,000 range, finally achieving over $91,000. Ether also saw significant upward movement, rising nearly 10% to trade above $2,400. The broader CoinDesk 20 Index (CD20) recorded a remarkable 17% increase, reflecting a revitalization of the market.
This announcement is anticipated to have a ripple effect across crypto-linked stocks, including major players such as Strategy (MSTR), Coinbase (COIN), Robinhood (HOOD), and bitcoin miners like MARA Holdings (MARA), Riot Platforms (RIOT), and CleanSpark (CLSK). With Trump’s initiative, bullish sentiment is set to return to the digital asset market, which had been languishing prior to this news.
Recent indications of market recovery emerged last Friday when the White House confirmed that President Trump would host a cryptocurrency summit on March 7. Attendees are expected to include influential founders, CEOs, and investors within the crypto industry, suggesting a concerted effort to dialogue about the future of digital assets.
To stay updated on this evolving narrative, check out the full discussion on Trump’s crypto reserve announcement: Donald Trump Names XRP, SOL, ADA, BTC and ETH as Part of U.S. Crypto Reserve and follow the ongoing recovery trends: Crypto Prices Show Signs of Recovery With Bitcoin Above $84k Amid Trump’s Summit Plans.
