Bitcoin (BTC-USD) on Monday erased the gains it scored on Sunday when President Donald Trump announced plans to build a strategic crypto reserve with bitcoin, ethereum (ETH-USD), XRP (XRP-USD), solana (SOL-USD),

President Donald Trump is throwing his support behind the creation of a federal reserve of cryptocurrency assets — he initially highlighted XRP, Solana,

Bitcoin was down 9.47 percent at $85,321.69 each. The cryptocurrency market’s total valuation remains above a trillion dollars, with Bitcoin holding the largest share.

While it’s not known exactly what form such a strategic reserve would take, nor whether the government would seek to buy crypto for the stockpile with taxpayer dollars — a move that would theoretically require approval from Congress — blockchain enthusiasts cheered the news.

Cryptocurrency prices jumped after Trump’s surprise announcement he wants the U.S. government to purchase and hold a variety of digital assets in a strategic reserve fund.

In a pair of social media posts today, President Donald Trump named some cryptocurrencies he says will be part of a Crypto Strategic Reserve being created by an executive order he signed in January. Those include Bitcoin and Ether,

Bitcoin rose sharply and could extend its recovery after President Trump announced the creation of a U.S. strategic crypto reserve, XTB's Kathleen Brooks said. "Ironically, a \[cryptocurrency\] that was designed to be isolated from government interference and decentralized,

Prices surge, helping stem a recent slide in the market for cryptocurrencies.