U.S. President Donald Trump announced on social media that five digital assets will be included in a new U.S. strategic reserve of cryptocurrencies, a move that spurred a significant surge in market values.
Following the announcement, Bitcoin, the world’s largest cryptocurrency, rose more than 11% to trade at approximately $94,164, while ether, the second-largest, increased by about 13% to around $2,516. Overall, the total cryptocurrency market experienced a roughly 10% uplift, translating to an increase of over $300 billion, according to data from CoinGecko.
Industry experts noted that the move could signal a shift toward more active U.S. participation in the crypto economy. Federico Brokate, head of U.S. business at 21Shares, stated that the decision may accelerate institutional adoption, provide clearer regulatory guidelines, and strengthen the U.S. leadership in digital asset innovation. However, James Butterfill, head of research at CoinShares, expressed surprise at the inclusion of assets beyond bitcoin, suggesting that these additional currencies are more akin to tech investments.
Trump’s announcement comes amid broader policy moves favoring the crypto industry. The president, who received support from the sector during his 2024 campaign, is set to host the first White House Crypto Summit on Friday, and his family has recently launched its own digital coins. Under Trump’s administration, the Securities and Exchange Commission has eased its scrutiny by withdrawing investigations into several crypto companies and dropping a lawsuit against Coinbase, the nation’s largest crypto exchange. This marks a departure from the regulatory approach of the previous administration, which had imposed stricter measures to curb fraud and money laundering.
Analysts have noted that despite recent downturns in cryptocurrency prices, market momentum could build further if additional catalysts, such as anticipated interest rate cuts by the U.S. Federal Reserve or a clearly articulated pro-crypto regulatory framework, emerge. Meanwhile, regulatory filings indicate that alongside hedge funds, banks and sovereign wealth funds have been increasing their allocations to crypto-related investments.
There is ongoing debate among legal experts and analysts over the best mechanism to establish the strategic reserve. Some argue that an act of Congress might be required, while others suggest that the U.S. Treasury’s Exchange Stabilization Fund could be used to purchase or sell the selected digital assets. Additionally, Trump’s crypto group had previously explored the option of creating the reserve using cryptocurrencies seized in law enforcement operations.
The announcement has intensified discussions on the future role of digital currencies in national policy, with market watchers and industry participants closely monitoring developments as the Trump administration pursues its crypto-related policy objectives.
Türkiye is closely monitoring developments in Syria and considers the country’s unity and territorial integrity vital for regional stability, Presi...
At least four people were killed on Tuesday as floods swept across Tunisia during the worst torrential rain for more than 70 years in some regions, an...
Wall Street closed sharply lower on Tuesday as global markets fell after U.S. President Donald Trump’s new tariff threats against Europe unsettled i...
A Russian air attack cut power to more than one million Kyiv residents and impacted substations carrying power from Ukraine's atomic plants on Tuesday...
A commuter train derailed on Tuesday after a containment wall fell on the track due to heavy rain near the Spanish city of Barcelona, killing the driv...
Türkiye is closely monitoring developments in Syria and considers the country’s unity and territorial integrity vital for regional stability, President Recep Tayyip Erdoğan told President Donald Trump during a phone call on Tuesday, according to Türkiye’s Communications Directorate.
The world has already entered an era of global water bankruptcy, with irreversible damage to rivers, aquifers, lakes and glaciers pushing billions of people into long-term water insecurity, according to a major United Nations report released on Tuesday.
U.S. forces have seized another oil tanker linked to Venezuela in the Caribbean, marking the seventh such detention in recent weeks as Washington intensifies enforcement of sanctions on illicit oil shipments.
President of Azerbaijan, Ilham Aliyev outlined Azerbaijan’s economic priorities, investment strategy and regional connectivity role while speaking at the Euronews Davos Azerbaijan Executive Breakfast on the sidelines of the World Economic Forum.
Italian fashion designer Valentino Garavani has died at the age of 93, his foundation said on Monday.
More than 100 vehicles were involved in a massive pileup on Interstate 96 in western Michigan on Monday (19 January), forcing the highway to shut in both directions amid severe winter weather.
A fresh consignment of precision-guided munitions has departed from the Indian city of Nagpur bound for Yerevan, marking the latest phase in the rapidly expanding defence partnership between India and Armenia.
Syria's Interior Ministry said on Tuesday that about 120 Islamic State detainees escaped from Shaddadi prison, after the Kurdish website Rudaw reported that a spokesperson for the Kurdish-led Syrian Democratic Forces, Farhad Shami, said around 1,500 Islamic State members had escaped.
U.S. President Donald Trump said he would impose a 200% tariff on French wines and champagnes after France declined to join his proposed Board of Peace on Gaza initiative.
Wall Street closed sharply lower on Tuesday as global markets fell after U.S. President Donald Trump’s new tariff threats against Europe unsettled investors and revived fears of renewed volatility.
Global markets are rattled after U.S. President Donald Trump threatened new tariffs on eight European countries over Greenland, sending the euro to a seven-week low and raising concerns about renewed transatlantic trade tensions.
Hong Kong and Shanghai will sign a memorandum of understanding next week to establish a cross-border gold trade clearing system, a move aimed at boosting Hong Kong’s role as an international gold trading hub, Financial Secretary Paul Chan said.
Elon Musk is seeking up to $134 billion from OpenAI and Microsoft, arguing that the companies profited unfairly from his early support of the artificial intelligence firm, according to a court filing made public on Friday.
The UK economy grew more strongly than expected in November, according to official figures, offering signs of resilience after months of weak performance.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment