• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Technology Cryptocurrency

Bitcoin Jumps 20% After Trump Hints at New Strategic Reserve

6 months ago
in Cryptocurrency, Features, highlights, Home, home-news, latest News, Markets, Technology
2 min read
0 0
0
53
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Bitcoin Jumps 20% After Trump Hints at New Strategic Reserve

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.S. strategic reserve that would include a range of tokens.

Trump said in a post on Truth Social that his January executive order on digital assets would create a stockpile of currencies, including bitcoin, ether, XRP, solana and cardano. The names had not previously been announced.

Bitcoin and ether will be at the heart of this reserve, he posted on Sunday.

The post sent the world’s largest cryptocurrency up by a fifth from the November lows it was trading at on Friday, helping flip sentiment on a token that has been sliding since mid-January on disappointment Trump had not followed through on pledges to loosen regulation.

It was last at around $91,605, up from Friday’s low of $78,273.

Ether was also up 20% from Friday’s lows to $2,351, a 7% drop from Sunday’s closing levels.

RelatedPosts

The Global Push for a Just Transition in Energy Jobs

Why the IEA Reinstated Its “Business as Usual” Scenario

GRA Targets Offshore Income in Expanded Tax Compliance Drive

XRP and solana were up around 30% from Friday’s lowest levels, while cardano was up 60% from last week’s lows.

“Trump just gave the pump that crypto traders have been holding out for,” said Matt Simpson, senior market analyst at City Index.

“Any faith that was lost last week appears to have been restored,” and new highs could be made unless there was another wave of risk-off selling, he said.

Chris Weston, head of research at Pepperstone, said it was possible the rally will extend into the first White House Crypto Summit that Trump is hosting on Friday, with the risk that the bearishness in other markets could weigh on sentiment.

While Wall Street closed higher on Friday, the recent selloff in large technology bellwethers such as Nvidia has eroded confidence in bitcoin, which some see as an alternative tech proxy.

Bitcoin fell more than 17% in February, clocking its biggest monthly percentage fall since June 2022 and losing more than a third of its price since topping $105,000 in early January.

Its rally since Trump’s November election was spurred by optimism that the crypto-friendly president would champion a strategic bitcoin fund and end the previous Joe Biden administration’s crackdown on the industry.

“Ironically, a currency that was designed to be isolated from government interference and decentralized, is now reliant on the US government for its fortunes,” Kathleen Brooks, research director at XTB said, reiterating that the $100,000 level an “obvious target” for bitcoin.

Beyond a flurry of appointments of crypto-friendly officials when Trump took office, there has been little concrete news so far around that policy for investors.

“While this announcement has significantly boosted prices, it has also raised concerns,” wrote IG market analyst Tony Sycamore.

The funding for cryptocurrency purchases in the reserve could either come from U.S. taxpayers or the cryptocurrencies in the asset will be those seized in law enforcement actions, he said.

“The latter isn’t anywhere near as bullish as it simply represents a transfer between accounts rather than new buying entering the market.”

Tags: BitcoinBitcoin Jumps 20% After Trump Hints at New Strategic ReserveStrategic Reserve

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

No Result
View All Result

Highlights

Gold Boom Drives Rising Costs for Australian Producers

La Liga: Barcelona Stages Late Comeback Against Levante as Atletico Madrid Drops Points Again

Premier League: Spurs Stun Man City at Etihad; Arsenal Dominates Leeds to go Top

CHAN 2024: Senegal, Sudan Complete Semifinal Lineup

From Promise to Peril: How Exam Fraud is Eroding Ghana’s Educational Soul

The 10 Fastest-Growing Trading Nations in Africa

Trending

Features

The Global Push for a Just Transition in Energy Jobs

August 24, 2025

The Global Push for a Just Transition in Energy Jobs For years, energy workers from the fossil...

Why the IEA Reinstated Its “Business as Usual” Scenario

August 24, 2025

GRA Targets Offshore Income in Expanded Tax Compliance Drive

August 24, 2025

Gold Boom Drives Rising Costs for Australian Producers

August 24, 2025

La Liga: Barcelona Stages Late Comeback Against Levante as Atletico Madrid Drops Points Again

August 24, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.