What a week! 🥵
You’ve probably been waiting for the meeting called by Trump at the White House to talk about cryptocurrencies.
Don’t worry, you’re not the only one!
The whole crypto space has been biting its nails since Monday, waiting.
🇺🇲 Trump’s Big Crypto Gathering
The week started strong with a post by Trump last Sunday, where he listed the cryptocurrencies that could be part of the US Strategic Reserve.
The impact was huge: in less than 24 hours, $300 billion was generated in the crypto market 🚀
In his post, Trump mentioned 5 cryptocurrencies as part of this Reserve. What are they and how did they react to the announcement?
- Bitcoin: It grew 7.6%, reaching $93,800.
- Ethereum: Surpassed the $2,500 barrier.
- XRP: Rose 30%, reaching a price of $2.89.
- Solana: Grew 20%, surpassing $144.
- ADA: Rose over 60%, surpassing $1.
But that wasn’t all. The day after, it was announced that on March 7th, the first White House Crypto Summit would take place.
The summit will bring together top representatives and leaders in the crypto world, with the goal of making the US the global crypto hub, and it’s expected that stablecoin integration will be discussed, aiming to connect cryptocurrencies with the traditional financial system.
🔥 As if that wasn’t enough, on March 6th, it was officially announced that a Bitcoin Strategic Reserve would be created, using assets seized by Federal Agencies.
💵 The Reserve will consist of 200,000 bitcoins already in government possession.
🔒 These bitcoins will not be sold. They will be held as a store of value.
This announcement is VERY important, as for the first time in history, the US government is shifting from a regulatory stance to actively participating in the crypto market.
By accumulating Bitcoin, the government aims to secure a strategic position in the digital economy, and additionally, it legitimizes Bitcoin as a serious asset class with long-term value.
What else can we expect from this crypto summit? 🔥
🍷 Cardano: Great Reserve
One of the big winners of Trump’s announcement has undoubtedly been ADA.
Cardano’s token has risen over 40% in the past week, boosted by its inclusion in the Strategic Reserve alongside other tokens like XRP, SOL, BTC, and ETH.
😎 In addition, Grayscale is seeking approval for a Cardano ETF on NYSE Arca, which would increase traditional investor access to ADA.
Investment in crypto assets is not fully regulated, may not be suitable for retail investors due to its high volatility, and there is a risk of losing the entire invested amount.
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