Trump's Crypto Reserve: Bitcoin, Ethereum Surge After Inclusion

President Donald Trump's recent announcement of a U.S. crypto strategic reserve has sparked a wave of reactions and debates within the crypto community. The initial omission of Bitcoin (BTC) and Ethereum (ETH) from the reserve, which included Ripple (XRP), Solana (SOL), and Cardano (ADA), caught many by surprise. However, Trump later clarified that BTC and ETH would indeed be part of the reserve.

Senator Cynthia Lummis had previously proposed a Bitcoin-focused strategic reserve, calling for the U.S. Treasury to acquire one million BTC over five years. Trump embraced this idea during his 2024 campaign and signed an executive order to assess its feasibility after taking office. His decision to include multiple assets has sparked mixed reactions, with some Bitcoin advocates arguing that BTC alone should be the foundation, while others see it as a step toward broader digital asset adoption at the federal level.

The crypto market reacted swiftly to Trump's announcement, with the overall market cap surging by approximately $230 billion in the last 24 hours as of Mar. 3, rising from $2.81 trillion to $3.04 trillion—an increase of over 8%. ADA led the rally, opening at $0.65 on Mar. 2 before soaring to $1.13—an impressive 74% jump. Some profit-taking followed, bringing ADA down to $0.96 as of Mar. 3, but the asset remains well above pre-announcement levels. SOL, which had been struggling in a bearish market, also saw a sharp rally, climbing from $143 to $178 for a 25% gain before settling around $161. XRP, already one of the biggest winners since Trump's election, jumped 35%, rising from $2.19 to a high of $2.97 before retracing to $2.68.

Bitcoin, despite being left out of Trump's initial announcement, posted a strong recovery. It officially broke out of its bearish phase, crossing $90,000 and reaching a high of $95,043 before stabilizing at $92,500, marking a 10% rally. Ethereum followed a similar pattern, climbing from $2,216 to $2,548