The price of Bitcoin surged on March 2, 2025, to a new high of $95,136. This comes after a major announcement from the President of the United States, Donald Trump. The bold move? Establishing a US Crypto Strategic Reserve to consolidate the nation’s position as a leader in the international crypto market.
The news sent shockwaves in the crypto space. Bitcoin prices surged nearly 9% within hours, from $85,166 to more than $95,000. Ether (ETH), the second-largest cryptocurrency, also surged by 13%, reaching $2,516. Traders were in a celebratory mood as trading activity picked up, taking the cryptocurrency market capitalization to $1.87 trillion.
Trump’s Big Crypto Move
President Trump made his announcement on Truth Social, referring to it as a long-overdue action to strengthen America’s crypto industry. “U.S. Crypto Reserve will elevate this critical industry after years of corrupt attacks by the Biden Administration,” Trump wrote. The reserve, he said, would comprise Bitcoin and other prominent coins like XRP, Solana (SOL), and Cardano (ADA).
Trump’s Digital Assets Executive Order had tasked the Presidential Working Group with spearheading the creation of this reserve with the aim of establishing the US as the global leader in the digital asset space. The news acted as a call to action for the crypto universe, pushing price action to record highs.
Altcoins Join the Rally
It wasn’t Bitcoin by itself that benefited from the news. Altcoins in the announced US Crypto Reserve were listed to have record increases.
– Solana (SOL) was up 24% to $175.46 from $141.47 at mid-day.
– XRP increased nearly 31%, reaching $2.92 from a previous level of $2.23.
– Cardano (ADA) showed the most sensational increase, spiking 71% to $1.10 from its prior level of $0.64.
Investors flocked into these coins expecting strong support from the US administration under Trump’s program.
The Risks Continue
Though the market is enthusiastic, caution has been urged by experts. The crypto market is notoriously volatile, and prices are prone to yo-yo violently in either direction. Bitcoin’s recent upswing is an example of how fickle the landscape can be.
Trump’s announcement has undoubtedly reshaped the crypto landscape, at least for now. Whether this momentum is sustainable remains to be seen, but one thing is certain: the cryptocurrency market is once again in the global spotlight. Investors, however, should tread carefully as the industry remains high-risk.
