Cryptocurrency gets major boost after Donald Trump backs crypto ‘strategic reserve’

Crypto assets got a major boost after President Trump over the weekend announced a new US strategic reserve of digital assets.

While Bitcoin dipped by roughly 4% on Monday after surging by 20% a day earlier, stocks of major US crypto firms soared on bets that the Trump administration is poised to execute an aggressively pro-crypto agenda in the months ahead.

The commander-in-chief said on Sunday that he plans to stockpile a basket of coins that include Bitcoin, Ether, XRP, Solana, and Cardano ahead of the first-ever White House crypto summit Friday...