President Donald Trump has doubled down on his pro-crypto stance, announcing plans for a U.S. Crypto Reserve that will include XRP, Solana (SOL), Cardano (ADA), Bitcoin and Ether.

In a Truth Social post on March 2, Trump said, "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,” adding that he will make “sure the U.S. is the Crypto Capital of the World.”

Trump clarified that "BTC and ETH, as other valuable Cryptocurrencies, will be at the heart of the Reserve. I also love Bitcoin and Ethereum!

This follows Trump’s campaign promise to make the U.S. the “crypto capital of the world.”

On Jan. 23 Trump signed an executive order titled “Strengthening American Leadership in Digital Financial Technology.” It outlined his administration’s support for blockchain technology and digital assets, including a push for legitimate dollar-backed stablecoins while banning any form of a central bank digital currency (CBDC).

However, the order did not explicitly create a U.S. Crypto Reserve but instead called for further study. Trump has been discussing the idea since his 2024 presidential campaign.

Lummis on Bitcoin reserve

Senator Cynthia Lummis, a Wyoming Republican, has been a strong advocate for a national strategic Bitcoin stockpile and introduced a bill calling for the U.S. to acquire 1 million BTC.

On Friday, Feb. 29, Lummis said progress on her proposal is moving slowly.

"My bets are that you’ll see a state have a Bitcoin strategic reserve before the federal government," Lummis said at a New York conference hosted by Anthony Pompliano. “States are incubators of innovation.”

She pointed out that other nations are already taking action, saying, "We’re seeing the United Arab Emirates purchase Bitcoin. You’re going to look at some of the sovereign wealth funds around the world who are not as tied up in a democratic republic like we are, be able to just make it so."

Lummis first introduced the idea of a national Bitcoin reserve alongside Trump at the Bitcoin 2024 conference in Nashville. But while Trump’s executive order called for studying a digital asset stockpile, it did not name Bitcoin as the centerpiece.

Despite Lummis’ push, crypto reserve bills are struggling at the state level. In the past month, proposals to establish state-level crypto reserves have failed in Montana, North Dakota, South Dakota, and Wyoming, with lawmakers citing concerns about risk and volatility.

(Update: The story now includes clarification from Donald Trump on adding Bitcoin and Ether.)