Bitcoin jumps nearly $14,000 in three days on Trump’s crypto reserve announcement

Bitcoin jumps nearly ,000 in three days on Trump’s crypto reserve announcement


Jakub Porzycki | Nurphoto | Getty Images

Stock Chart IconStock chart icon

hide content

Bitcoin

Over the weekend, Trump announced the creation of a strategic crypto reserve – a pivot from the “bitcoin stockpile” he previously touted – that he said will include ether, XRP,  Solana’s SOL token and Cardano’s ADA, in addition to bitcoin.

Bitcoin rose as high as $95,000, while the smaller coins rocketed double digits.

It was welcome news to investors, who have been anxious for cryptocurrencies to come out of their consolidation. Last week, bitcoin fell under the key $90,000 level for the first time in three months to, at one point, 25% below its January all-time high. That break below support put it at risk of a bigger slide toward $70,000. Losses in smaller, riskier coins have been even steeper.

“The weekend news is exactly the type of catalyst investors have been looking for to feel reassured about follow through from the U.S. administration with respect to its crypto friendly policies,” Joel Kruger, market strategist at LMAX Group, told CNBC. “Now that we’ve already seen a healthy correction in February, this sets the stage for the start to the next leg higher for crypto assets.”

Investors this week will be watching for clues about the direction of the reserve plans. White House AI and crypto czar David Sacks teased in a post on X that there would be “more to come” at the first White House Crypto Summit, scheduled to take place this Friday.

How long prices stay elevated may depend on the details disclosed at the event.

Don’t miss these cryptocurrency insights from CNBC Pro:



Source

TikTok loses bid to dismiss lawsuit alleging its ‘addictive design’ exploits kids
Technology

TikTok loses bid to dismiss lawsuit alleging its ‘addictive design’ exploits kids

FILE PHOTO: TikTok app logo is seen in this illustration taken, August 22, 2022.  Dado Ruvic | Reuters A judge this week rejected TikTok’s attempt to dismiss a lawsuit by the state of New Hampshire accusing it of using manipulative design features aimed at children and teens. “The Court’s decision is an important step toward […]

Read More
Nvidia’s Jensen Huang sells more than  million in stock, catches Warren Buffett in net worth
Technology

Nvidia’s Jensen Huang sells more than $36 million in stock, catches Warren Buffett in net worth

Jensen Huang, CEO of Nvidia, holds a motherboard as he speaks during the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris, France, on June 11, 2025. Gonzalo Fuentes | Reuters Nvidia CEO Jensen Huang unloaded roughly $36.4 million worth of stock in the leading artificial intelligence chipmaker, […]

Read More
Tesla to officially launch in India with planned showroom opening
Technology

Tesla to officially launch in India with planned showroom opening

Elon Musk meets with Indian Prime Minister Narendra Modi at Blair House in Washington DC, USA on February 13, 2025. Anadolu | Anadolu | Getty Images Tesla will open a showroom in Mumbai, India next week, marking the U.S. electric carmakers first official foray into the country. The one and a half hour launch event […]

Read More