Bitcoin's price surged by 20% following Trump's announcement about the establishment of a U.S. crypto reserve.

On Monday, March 3rd, Bitcoin surged by over 20% from last week's lows following the announcement by the U.S. president regarding plans to incorporate it into a new strategic cryptocurrency reserve for the United States.

https://epravda.com.ua/rus/finances/stoimost-bitkoina-podskochila-na-20-na-fone-zayavleniy-trampa-o-sozdanii-kriptorezerva-ssha-803877/2025-03-03 09:14:35

Reuters reports on this.

On the social network Truth Social, Trump stated that according to his January decree on digital assets, a strategic reserve will be established, which will include Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Solana (SOL), and Cardano (ADA).

Against this backdrop, Bitcoin surged to $93,057, up from $78,273 on Friday.

Ethereum increased by 10% since the market closed on Friday, reaching $2,450, while XRP rose by 31%, Solana by 15%, and Cardano by 69%.

"Trump provided the boost that crypto traders were waiting for," said Matt Simpson, senior market analyst at City Index.

"The confidence that was lost last week seems to have returned, and new highs could be reached if there isn't another wave of selling," he added.

In February, Bitcoin fell by more than 17%, marking its largest monthly percentage drop since June 2022, losing over a third of its value since surpassing the $105,000 mark in early January.

"The rise of Bitcoin following Trump's election in November was fueled by optimism that he would advocate for a strategic Bitcoin fund.

However, apart from a flurry of appointments of crypto-friendly officials when Trump took office, there has been little concrete news regarding this policy for investors," Reuters summarizes.

Reminder:

U.S. President Donald Trump announced the creation of the "Strategic Crypto Reserve of the USA," naming Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Solana (SOL), and Cardano (ADA) as key assets to be included.