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The crypto market’s total market cap saw a massive $330 billion surge in just four hours after president Donald Trump announced plans for a US Crypto Reserve that would include Bitcoin, Ethereum, Solana, XRP, and Cardano on Sunday.
The news sent the bears packing, liquidating $160 million in Bitcoin shorts in the process, per data from Coinglass. In his announcement, which was made via Truth Social as usual, president Trump said:
“My Executive Order on Digital Assets directed the Presidential Working Group to move forward on a Crypto Strategic Reserve that includes XRP, SOL, and ADA. I will make sure the US is the Crypto Capital of the World. We are MAKING AMERICA GREAT AGAIN! And, obviously, BTC and ETH, as other valuable Cryptocurrencies, will be the heart of the Reserve. I also love Bitcoin and Ethereum!”