The cryptocurrency market saw a massive surge over the weekend after President Trump announced his plan to create a U.S. crypto reserve. His statement, shared on Truth Social, excited investors and sent Bitcoin soaring.

On Sunday, Bitcoin skyrocketed from around $85,000 to a peak of $94,000 shortly after Trump’s announcement. By Monday, Bitcoin settled at approximately $91,400—an impressive jump from last Friday’s low of $78,000, according to CoinMarketCap.

In his post, Trump explained that the new “crypto reserve” is meant to boost the industry after what he called “years of corrupt attacks by the Biden administration.” He revealed that the reserve will include major cryptocurrencies like XRP, Solana (SOL), and Cardano (ADA).

“I want the U.S. to be the Crypto Capital of the World. We are MAKING AMERICA GREAT AGAIN!” Trump declared.

He also reassured investors that Bitcoin (BTC) and Ethereum (ETH), two of the most valuable cryptocurrencies, will play a key role in the reserve. “I also love Bitcoin and Ethereum!” he added in a follow-up post.

Following Trump’s remarks, other cryptocurrencies also surged. Ethereum (ETH) jumped 13%, reaching just under $2,300 by Monday morning. XRP saw an even bigger increase, rising over 15% to trade at $2.57.

This rally comes after a rough few days in the crypto market. Last week, many cryptocurrencies plunged due to fears over a massive security breach at ByBit, a major crypto exchange. Reports suggest North Korean hackers stole around $1.5 billion in digital assets from the exchange, shaking investor confidence.

Market uncertainty may have also played a role in last week’s price drops. Even though Trump has consistently supported crypto, some investors were hesitant about what his administration’s plans might mean for the industry.

Trump has repeatedly promised to make America the global leader in cryptocurrency. Early in his presidency, he signed an executive order on digital assets but did not initially mention any plans for a crypto reserve. This lack of clarity left the market struggling for momentum.

More details about the reserve will be revealed at the first White House Crypto Summit this Friday. David Sacks, Trump’s top advisor on crypto and artificial intelligence (AI), confirmed that key industry leaders—including crypto founders, CEOs, and investors—will be attending alongside members of the President’s Working Group on Digital Assets.

With this new initiative, Trump’s administration is signaling strong support for cryptocurrency. Investors are now eagerly awaiting further details at the upcoming summit to see how this plan could shape the future of digital assets in the U.S.