Crypto Stocks Rally, Bitcoin Jumps as Trump Touts US Crypto Reserve
Crypto stocks rallied Monday after Trump said in a post on Truth Social that his administration will create a US crypto reserve. President Donald Trump's announcement sparked a $300 billion global crypto rally Sunday that has continued to start the trading week. The jump comes after bitcoin saw its worst month in February since June 2022, dropping roughly 17% as the so-called "Trump trade" lost steam.
- This sudden interest from the US government in cryptocurrencies may signal a new era of regulatory clarity and investment in the space, potentially attracting more institutional players and further driving growth.
- Will the creation of a national crypto reserve have broader implications for global economic policy and monetary systems, or will it remain a niche phenomenon?