Bitcoin skyrockets to over $95,000 after Donald Trump announces BIG US crypto reserve move

The cryptocurrency market benchmark coin, Bitcoin, soared above $95,000 after Donald Trump announced setting up a huge US crypto reserve on Sunday, March 2, 2025.

Bitcoin price jumped above $94,000 as of Sunday evening, getting as high as $95,136, Invetsors Business Daily reported, compared to $85,166.29 levels at around 8:50 p.m. (IST), according to Coinmarketcap data. Ether, the second-largest cryptocurrency, was up about 13% at $2,516 on Sunday.

Markets jumped due to Donald Trump's announcement regarding a Crypto Strategic Reserve in the United States to boost America's crypto industry.

“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,” US President Donald Trump said in his post on Truth Social. 

The cryptocurrency's market capitalisation was at $1.87 trillion, with market volumes exceeding $47 billion at 11:32 a.m. on March 2.

Crypto coins jump on Trump's announcement

US President Donald Trump's announcement also mentioned that the Crypto Strategic Reserve will include cryptocurrencies XRP, Solana, and Cardano. All three crypto coins jumped on the announcement on March 2.

Solana coin (SOL) jumped 24 per cent to $175.46, compared to its levels of $141.47 at 8:55 p.m. (IST). 

XRP token (XRP) jumped nearly 31 per cent to $2.92, compared to $2.23 at 8:55 p.m. (IST). XRP token later soared in trading, up 33.14 per cent at $2.84, compared to its levels on the previous day, Coinmarketcap data showed.

Cardano token (ADA) rose 71 per cent to $1.1, compared to its previous level of $0.64 at 8:55 p.m. (IST). 

Investments in these digital asset classes are risky due to the highly volatile nature of the crypto market. Hence, investors should stay cautious before making any investments.

Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.