After Donald Trump's Historic Crypto Reserves Announcement, the US Crypto Chief Hinted at Friday: Can Other Altcoins Also Come?

President of the United States, Donald Trump, announced the establishment of a Crypto Strategic Reserve including Bitcoin, Ethereum, Solana, XRP, and Cardano in a groundbreaking move for the cryptocurrency sector.

The announcement, made via social media, immediately sent shockwaves through the digital asset market, with significant price increases in major cryptocurrencies.

US Artificial Intelligence and Crypto Chief David Sacks hinted that more announcements could be made at the cryptocurrency summit on Friday.

"President Trump announced a Crypto Strategic Reserve consisting of Bitcoin and other major cryptocurrencies. This is consistent with the E.O. 14178 he issued a week ago. President Trump is keeping his promise to make the U.S. the 'Crypto Capital of the World.' More to come at the Summit."

This move marks a significant departure from the regulatory stance of the previous Biden administration, which imposed tight crackdowns on the crypto industry to mitigate the risks of fraud and money laundering. Trump's pro-crypto policies have been widely welcomed by industry leaders, who see them as a catalyst for wider adoption and regulatory clarity.

Despite the excitement, details on how the Strategic Reserve for Cryptocurrency will operate remain uncertain. Legal experts are debating whether a Congressional action is necessary for its implementation. Some analysts suggest that the reserve could be managed through the U.S. Treasury's Exchange Stabilization Fund, which is traditionally used to regulate currency markets.

President Trump will host the first White House Crypto Summit on March 7 to further detail the administration's crypto agenda.