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Bitcoin up 20% after Trump names tokens for US crypto reserve
March 04, 2025
|The Straits Times
US President Donald Trump has unveiled five cryptocurrencies that he said would be included in a new US strategic reserve, sending the price of Bitcoin and the other named digital tokens soaring.
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Mr Trump said in a post on Truth Social that his January executive order on digital assets would create a stockpile of currencies including Bitcoin, Ether, XRP, Solana and Cardano.
Bitcoin and Ether will be at the heart of this reserve, he posted on March 2.
The post sent Bitcoin, the world's largest cryptocurrency, up 20 per cent from the November lows it was trading at on Feb 28, helping flip sentiment on a token that has been sliding since mid-January on disappointment that Mr Trump has not followed through on pledges to loosen regulation.
It was last trading around US$93,057, up 16 per cent from Feb 28's US$78,273.
هذه القصة من طبعة March 04, 2025 من The Straits Times.
اشترك في Magzter GOLD للوصول إلى آلاف القصص المتميزة المنسقة، وأكثر من 9000 مجلة وصحيفة.
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