Bitcoin Surges as Crypto Stocks Rally on Trump's Strategic Reserve Plan

Bitcoin and Crypto Stocks Rally on Trump's Crypto Reserve Announcement

Bitcoin and cryptocurrency-related stocks surged in premarket trading on Monday, driven by President Donald Trump's announcement of a proposed "Crypto Strategic Reserve." The world's largest cryptocurrency, Bitcoin, rose 7.1% to $92,068.2, trimming earlier gains that had reached as high as 20% to $94,266.1. This rebound comes after weeks of decline, fueled by disappointment over Trump's earlier lack of crypto-focused statements and weakening sentiment toward speculative assets.

Key Stocks on the Move

Several crypto-exposed companies saw significant gains in premarket trading:

• MicroStrategy (NASDAQ:MSTR), a major Bitcoin investor, advanced.
• Coinbase (NASDAQ:COIN), the leading crypto exchange, also climbed.
• Digital asset miners such as Riot Platforms (NASDAQ:RIOT), Mara Holdings (NASDAQ:MARA), Bit Digital (NASDAQ:BTBT), CleanSpark (NASDAQ:CLSK), and Hut 8 (NASDAQ:HUT) saw notable increases.

Trump's Crypto Strategic Reserve Plan

President Trump reiterated his proposal for a U.S. Crypto Reserve, stating that Bitcoin, Ether, XRP, Solana, and Cardano would be included. He emphasized that the reserve would elevate the crypto industry's importance. This announcement follows last month's executive order to explore a regulatory framework for crypto, though the order had lacked specifics and did not mention Bitcoin.

What's Next?

Trump is scheduled to host his first White House crypto summit this Friday, where he is expected to provide further details on his crypto plans. The president has long advocated for the crypto industry, pledging during his campaign to make the U.S. the "Crypto Capital of the World."

The rally reflects renewed optimism among investors, signaling potential momentum for the crypto sector under Trump's proposed initiatives.