Bitcoin surged more than 20% from last week’s lows on Monday, leading a broader cryptocurrency rally after U.S. President Donald Trump suggested the creation of a U.S. strategic reserve that would include various digital assets.
In a post on Truth Social, Trump stated that his January executive order on digital assets would establish a stockpile featuring bitcoin, ether, XRP, solana, and cardano. This was the first time specific cryptocurrencies were named in connection with the proposed reserve.
Bitcoin jumped by a fifth from Friday’s lows, reversing recent losses tied to investor concerns over regulatory uncertainty. It was last trading around $91,605, up from its low of $78,273 last week. Ether also gained 20% from Friday’s lows to reach $2,351, despite being down 7% from Sunday’s closing levels.
XRP and solana rose about 30%, while cardano surged 60% from last week’s lows.
The rally comes ahead of Trump’s first White House Crypto Summit, scheduled for Friday, fueling speculation that further policy announcements could follow. Investors had grown cautious after bitcoin fell more than 17% in February, marking its worst monthly decline since June 2022.
The cryptocurrency had lost over a third of its value since peaking at $105,000 in early January.
Bitcoin’s rally since Trump’s November election was driven by optimism that his administration would support a strategic bitcoin fund and roll back the regulatory crackdowns imposed under Joe Biden’s presidency. However, concrete policy details remain unclear beyond appointments of crypto-friendly officials.
The announcement has also raised concerns over how the reserve would be funded, with possibilities including taxpayer contributions or assets seized in law enforcement actions. If the latter approach is taken, analysts suggest it may not generate new market demand but rather represent a reallocation of existing assets.
