It increased by several thousand in a few hours.
The value of Bitcoin jumped from $85,000 to $94,000 within hours of President Donald Trump’s announcement of plans to create a strategic crypto reserve over the weekend, disclosing a few details in a post on his social media site. President Trump stated that a U.S. “crypto reserve” will “elevate this critical industry after years of corrupt attacks by the Biden administration.”
“Which is why my Executive Order on Digital Assets directed the Presidential Working Group to move forward on a Crypto Strategic Reserve that includes XRP, SOL, and ADA,” the president continued. “I will make sure the U.S. is the Crypto Capital of the World. We are MAKING AMERICA GREAT AGAIN!”
The cryptocurrency market experienced record lows last week after the cryptocurrency exchange firm Bybit announced that North Korean hackers likely stole around $1.5 billion from their organization. After President Trump’s announcement on Sunday, other cryptocurrencies also experienced price surges, with Ether up by 13 percent and XRP up by 15 percent.
As the Lord Leads, Pray with Us…
- For the president and his financial advisors as they seek to create the crypto reserve.
- For wisdom for U.S. officials as they work to increase cybersecurity in the nation.
Sources: The Hill, AP News
