MC Desk | March 3, 2025
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U.S. President Donald Trump revealed plans for a cryptocurrency reserve, naming five digital assets to be included.
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Bitcoin (BTC) and Ether (ETH) will be at the heart of the reserve, along with XRP, Solana (SOL), and Cardano (ADA), Trump said.
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Bitcoin jumped over 11% to $94,164, while Ether surged 13% to $2,516. The total crypto market gained over $300 billion.
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The move signals Washington’s increasing involvement in digital assets, potentially driving institutional adoption and regulatory clarity.
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While some see it as a bullish signal, others question the inclusion of non-Bitcoin assets, calling them more tech investments than true cryptocurrencies.
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Trump has rolled back SEC investigations into crypto firms and is set to host the first White House Crypto Summit on Friday.
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Despite the surge, analysts warn that sustained growth depends on Federal Reserve rate cuts or clear pro-crypto policies from the U.S. government.
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Reuters quoted an analysts at Standard Chartered saying Bitcoin could hit $500,000 before Trump leaves office, with institutional investments rising.
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Moneycontrol advises users to check with certified experts before taking any investment decisions.
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