Bitcoin experienced a strong rally over the weekend after President Trump announced a U.S. strategic crypto reserve, generating excitement among cryptocurrency supporters. Bitcoin traded above $92,000, an 18% increase from its Friday low of around $78,226. Ether also rose by 13%, reaching about $2,300.
In premarket trading, shares of Coinbase and Robinhood increased by 9% and 7%, respectively, while MicroStrategy’s stock gained 12%. Trump’s announcement included plans for a reserve featuring not just bitcoin, but also ether, XRP, Solana’s SOL token, and Cardano’s ADA.
Bitcoin climbed as high as $95,000, with other smaller cryptocurrencies seeing significant gains as well. This positive momentum was a relief for investors, especially after bitcoin had previously fallen below $90,000 for the first time in three months, heightening concerns about a potential further decline.
Source (CNBC)
