Donald Trump $TRUMP (-5,37%) has made good on his promise from the presidential election campaign and ordered the creation of a US reserve for digital currencies. The focus is on the procurement of bitcoins, but other digital currencies such as Ethereum and Solana are also to be stored in a separate reserve. The US digital currency commissioner David Sacks has made it clear that the Department of Commerce and the Department of the Treasury may actively acquire additional bitcoins for this reserve in future. The special thing about this is that these measures are to be implemented at no cost to taxpayers. It is an exciting step that catapults the USA into the world of cryptocurrencies and shows that the government is taking the digital future seriously.
But the US government has also sent a clear message: It will not actively seek ways to expand holdings. This could mean that the reserve will remain in its current form for the time being. The markets are already reacting to this news, and the price of Ethereum recently fell to 2000 dollars, while Solana is trading around 131 dollars. These developments could send deeper ripples through the cryptocurrency market, especially as the political environment changes. Investors should remain vigilant and keep a close eye on developments, as the crypto market is known for its volatility.
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