US President Donald Trump has revealed the names of five cryptocurrencies that he says he'd like to be included in a new strategic reserve to make the US "the Crypto Capital of the World".
According to BBC, the market prices of the five coins he named, Bitcoin, Ethereum, XRP, Solana and Cardano - all swiftly jumped after the announcement.
During Trump's presidential campaign, he aggressively courted the crypto community. The previous US president, Joe Biden, had overseen a crackdown on crypto due to concerns about fraud and money laundering.
It is unclear how the new stockpile will work. More information is expected on Friday, when Trump plans to host the first Crypto Summit at the White House.
In a social media post on Sunday, Trump said he had signed an order which "directed the Presidential Working Group to move forward on a Crypto Strategic Reserve that includes XRP, SOL, and ADA".
About an hour later he added in another post, "And, obviously, BTC and ETH, as other valuable Cryptocurrencies, will be at the heart of the Reserve."
The first three coins he named jumped by up to 62% on Sunday while Bitcoin and Ethereum also jumped by more than 10% each.
