TechFlow reported on March 3 that, according to Bloomberg, U.S. President Donald Trump once again mentioned his proposal for a cryptocurrency strategic reserve, sparking a strong rebound in the crypto market. Spencer Hallarn, Global Head of OTC at crypto investment firm GSR, said: "Trump's comments led participants to rush to reestablish long positions, serving as a powerful driver for price increases." Andrew Tu, Sales Director at market maker Efficient Frontier, noted it was surprising that XRP and ADA were included in Trump's plan, although macroeconomic concerns could still lead to another drop in cryptocurrency prices.
According to CoinMarketCap data, all cryptocurrencies mentioned by Trump rank within the top eight by market capitalization, with only stablecoins Tether, USDC, and BNB not included. While the Trump administration has dropped multiple lawsuits and investigations against crypto firms, specific details of the reserve plan—including the actual purchase scale and funding sources—remain unclear.
