Some Bitcoiners also believe that a reserve could serve as a hedge against inflation. They point to the fact that the dollar has gotten less valuable over time, and argue that Bitcoin’s value could be stronger than the dollar’s during global economic crises.

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

Trump said his January executive order on digital assets would create a stockpile of currencies including bitcoin, ether, XRP, SOL and ADA.

Donald Trump announced a crypto strategic reserve featuring Bitcoin, Ethereum, XRP, Solana, and Cardano. The move drew criticism, particularly for including Cardano and omitting Bitcoin

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.

President Donald Trump said Sunday that he is directing his newly created digital assets working group to move forward on creating a “crypto strategic reserve” along the lines of existing U.S. reserves of gold and oil.

Trump (pictured) vowed to 'make sure the US is the crypto capital of the world' and said bitcoin and ethereum would be at the 'heart of the reserve'.

Bitcoin was deep in the red, sinking below $80,000. But in a dramatic turnaround, the leading cryptocurrency has surged over $14,000, thanks in large part to President Donald Trump. Over the weekend,

SINGAPORE (Reuters) -Bitcoin surged more than 20% from last week's lows on Monday and several other cryptocurrencies also rallied sharply after U.S. President Donald Trump raised the possibility of a new U.