President Donald Trump has directed his crypto working group to establish a Crypto Strategic Reserve including major cryptocurrencies such as Bitcoin Ethereum XRP Solana and Cardano. Following this announcement Bitcoin’s value spiked reaching nearly $95000 before settling at around $93000. Concurrent gains in Cardano and XRP were recorded at 40% and 16% respectively showing a bullish trend in the crypto market.

Geoff Kendrick from Standard Chartered emphasized the significance of Trump’s initiative which aims to integrate cryptocurrencies like Bitcoin into stable global investment portfolios. He predicted Bitcoin could hit $500000 by 2028 fueled by increased investor access and its emerging role as a hedge against traditional financial uncertainties.

Ahead of the White House Crypto Summit expectations for substantial policy enhancements have surged. Kendrick highlighted Trump’s strategy could inspire similar state-level reserves in the U.S. potentially matching federal holdings with an estimated 200000 BTC. This strategic move by Trump signals a robust support framework for cryptocurrencies enhancing market stability and investor confidence.