Bitcoin surged more than 20% from last week’s lows on Monday, following U.S. President Donald Trump’s announcement that several cryptocurrencies would be included in a new United States strategic reserve. Other major digital assets also rallied sharply.
In a post on Truth Social, Trump revealed that his January executive order on digital assets would establish a stockpile of cryptocurrencies, including Bitcoin, Ether, XRP, Solana, and Cardano — the first time these names have been publicly disclosed.
“Bitcoin and Ether will be at the heart of this reserve,” Trump stated on Sunday.
The announcement propelled Bitcoin up by a fifth from its November lows, reversing a downward trend since mid-January caused by growing disappointment over Trump’s perceived inaction on loosening crypto regulations. Bitcoin was last trading at around $93,057, climbing from Friday’s $78,273.
Other cryptocurrencies also posted significant gains. Ether rose 10% from Friday’s close to $2,450, while XRP gained 31%, Solana advanced 15%, and Cardano soared 69%.
“Trump just gave the pump that crypto traders have been holding out for,” said Matt Simpson, senior market analyst at City Index. “Any faith that was lost last week appears to have been restored, and new highs could be made unless another wave of risk-off selling emerges.”
The rally may extend into the first White House Crypto Summit, scheduled for Friday, according to Chris Weston, head of research at Australian online broker Pepperstone. However, he cautioned that broader bearish sentiment in other markets could still affect cryptocurrency prices.
Despite Wall Street closing higher on Friday, recent selloffs in major tech stocks like Nvidia have shaken investor confidence in Bitcoin, which some view as a tech-adjacent asset.
Bitcoin fell more than 17% in February — its largest monthly drop since June 2022 — and has shed over a third of its value since peaking at $105,000 in early January.
The cryptocurrency’s surge following Trump’s November election victory was fueled by optimism that the crypto-friendly president would champion a strategic Bitcoin fund and roll back the Biden administration’s regulatory crackdown on the industry. However, aside from appointing several crypto-friendly officials, Trump’s policy moves have been limited, leaving some investors cautious.
“While this announcement has significantly boosted prices, it has also raised concerns,” said Tony Sycamore, market analyst at IG.
He noted that the funding for cryptocurrency purchases in the reserve could come either from U.S. taxpayers or from digital assets seized in law enforcement actions. “The latter isn’t as bullish, as it represents a transfer between accounts rather than new buying entering the market,” he explained.
