Following President Donald Trump’s announcement of the first-ever US crypto reserve, his son Eric reiterated the paradigm shift from the stereotypical financial system.
While the traditional markets were closed, cryptocurrencies rallied extensively. On Sunday, the digital asset sector regained its $3 trillion valuation, receiving a substantial boost from US President Donald Trump’s announcement of a national cryptocurrency reserve consisting mainly of US-originated cryptocurrencies.
The US president has rekindled the US national crypto reserve ploy, which seemed to be losing momentum. In the much-talked-about Sunday Truth Social post, Trump reiterated his commitment to establishing a stockpile of major made-in-America digital assets. For the first time, he revealed the reserve would contain XRP, Solana, and Cardano.
Trump disclosed ordering the White House crypto working group to move forward with the reserve creation, which will dignify the digital asset sector after years of attacks from the Biden administration. In a follow-up post, the pro-crypto 47th US president clarified that Bitcoin and Ethereum, the two largest cryptocurrencies by market cap, would also be part of the national stockpile.
Eric Trump Says TradFi Better Catch-Up
Eric Trump admonished Donald Trump’s genius in announcing the major update on a Sunday, precisely because the traditional financial (TradFi) system closed for the weekend. He stated that the world no longer operates under the time-constricted phase of operating on a particular day and timeframe.
I love the genius of announcing a strategic reserve on a Sunday, when traditional markets are closed and Wall Street sleeps. For the first time, retail investors win. Traditional finance better catch up, or it will quickly become extinct. The world no longer runs on a Mon-Friday,… pic.twitter.com/EPtbEisbdI
— Eric Trump (@EricTrump) March 3, 2025
Furthermore, he urged TradFi to join the evolving financial market or risk extinction. According to him, this development is a win for retail investors, who benefited extensively from the market shift.
Bill Consistent with Week-One Executive Order
Meanwhile, White House crypto and AI czar David Sacks has confirmed that Trump’s reserve announcement is consistent with the executive order he signed during his first week in office. On January 23, the president signed an executive order to make America the crypto capital of the world, fulfilling his promises to the sector.
Moreover, Sacks hinted at more exciting developments in the Friday White House crypto summit. In the Sunday X post, the czar stated that Trump and the team will unfold their detailed plans for the industry in the March 7 congregation.
President Trump has announced a Crypto Strategic Reserve consisting of Bitcoin and other top cryptocurrencies. This is consistent with his week-one E.O. 14178. President Trump is keeping his promise to make the U.S. the “Crypto Capital of the World.” More to come at the Summit.
— David Sacks (@davidsacks47) March 2, 2025
Interestingly, the cryptocurrency market almost wiped out all February losses with the Sunday pump, setting the bull run back on course. Nonetheless, the surge did not pump Sack’s bags, as he disclosed on Monday that he does not hold any cryptocurrency.
The crypto czar revealed in a parallel tweet that he sold his Bitcoin, Ethereum, and Solana prior to Trump’s inauguration. This confirms a Financial Times report on the issue.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
