Bitcoin’s (BTC) price surged past $91,000 on Sunday after U.S. President Donald Trump announced crypto strategic reserves for the world’s biggest economy.
In his initial announcement, Trump announced XRP, Solana (SOL), and Cardano (ADA) as cryptocurrencies to be included in the reserve and later said BTC and ether (ETH) would also be part of it.
Read more: Donald Trump Names XRP, SOL, ADA, BTC and ETH as Part of U.S. Crypto Reserve
XRP jumped 31% in the last 24 hours to trade around $2.80, while ADA price crossed above $1 and SOL above $160, both rising more than 20% on Sunday.
Meanwhile, BTC was up 6% in the last 24 hours, finally trading above $91,000 after prices stuck near the 80,000 to the $84,000 range. ETH was above $2,400, rising nearly 10% in the same time period. The broader CoinDesk 20 Index (CD20) rose a whopping 17% in the last 24 hours.
The news would also help the prices of crypto-linked stocks such as Strategy (MSTR), Coinbase (COIN), Robinhood (HOOD), and bitcoin miners such as MARA Holdings (MARA), Riot Platforms (RIOT), and CleanSpark (CLSK).
Trump’s move will likely bring bullish sentiment back into the digital assets space, which had been languishing for a week.
The crypto prices started to show signs of life on Friday when the white house said Trump would host a crypto summit on March 7. Summit attendees are set to include “prominent founders, CEOs, and investors from the crypto industry.
Read more: Crypto Prices Show Signs of Recovery With Bitcoin Above $84k Amid Trump’s Summit Plans