Bitcoin soared past $93,000 over the weekend following President Trump’s announcement of plans to establish a U.S. strategic crypto reserve, which will include Bitcoin, Ether, and several other digital currencies.

“A U.S. Crypto Reserve will elevate this critical industry after years of corrupt attacks by the Biden Administration,” President Trump wrote in a Truth Social post on Sunday. “I will make sure the U.S. is the Crypto Capital of the World. We are MAKING AMERICA GREAT AGAIN!”

According to CNBC, the strategic reserve will include multiple digital currencies beyond Bitcoin, such as Ether, XRP, Solana, and Cardano.

The announcement sparked a major rally in the cryptocurrency market, pushing Bitcoin to a high of $95,000, while smaller altcoins saw double-digit percentage gains.

This surge follows a recent period of consolidation, during which Bitcoin briefly fell below the critical $90,000 level for the first time in three months, dropping as much as 25% from its January all-time high.

“The weekend news is exactly the type of catalyst investors have been looking for to feel reassured about follow through from the U.S. administration with respect to its crypto friendly policies,” Joel Kruger, market strategist at LMAX Group, told CNBC.

“Now that we’ve already seen a healthy correction in February, this sets the stage for the start to the next leg higher for crypto assets,” Kruger continued.

Investors are eagerly anticipating further details at the first White House Crypto Summit, set for this Friday. White House AI and crypto czar David Sacks hinted that there would be “more to come” at the event, suggesting additional policy announcements that could influence the cryptocurrency market.

This initiative marks a significant shift in U.S. policy toward digital assets, positioning America as a global leader in cryptocurrency adoption at a time when many other countries have implemented restrictive regulations.

China, for example, has outright banned cryptocurrency mining and trading, while the European Union has implemented strict regulatory frameworks that many in the industry believe stifle innovation.

Trump’s announcement of a strategic crypto reserve signals a clear push to establish U.S. dominance in the digital asset space, potentially positioning America for a competitive advantage in future global financial systems. Similar to gold reserves, a strategic crypto reserve could serve as a hedge against inflation and currency devaluation while also reducing reliance on traditional financial infrastructure, the Daily Wire noted.

Although details remain scarce, expectations are high that the White House Crypto Summit will shed light on the reserve’s implementation timeline, acquisition strategy, and governance structure.

Industry leaders will be closely watching for potential regulatory reforms accompanying the initiative, particularly regarding cryptocurrency taxation and securities classification—two areas that have long created uncertainty in the market.