US President Donald Trump's announcement of a national cryptocurrency reserve lifted the market, with Bitcoin exceeding $95,000. However, the project still requires congressional approval.
The Trump Effect: Price Surge
On March 2nd, Donald Trump announced that his cryptocurrency task force plans to include Bitcoin, Ethereum, XRP, Solana, and Cardano in the strategic reserve. 'We must ensure America's leadership in financial innovation,' stated the President. This announcement sparked a market rally: cryptocurrency capitalization jumped by 7%, while Bitcoin rose by 7.7%.
Major Obstacles and Uncertain Future
Despite initial enthusiasm, the project needs Congressional approval. Analyst Aurélie Barthere from Nansen warns: 'Creating a reserve through direct purchase of cryptocurrencies is a complex process requiring a Congress vote.' Nicolai Sondergaard from Nansen adds: 'The question is if the project will materialize, otherwise it could be a negative signal for the market.'
Expectations and Prospects
A key date is March 7, when Trump will hold the first crypto summit at the White House. This event may clarify the national reserve concept and its feasibility. Amid an ambitious project and unpredictable legislative reality, the market could still experience many fluctuations.
Trump's initiative for a strategic cryptocurrency reserve caused a market surge, but the project's fate depends on Congress and other political factors.
