Source: Tencent News "Permitive", special author Ji Zhenyu

The currency circle is in full swing again because a tweet from US President Trump said that it will promote the strategic reserve of digital cryptocurrency. Affected by the news, the cryptocurrency market rose across the board, and Bitcoin soared less than an hour after this news, reaching more than $90,000 again. In addition, other cryptocurrencies mentioned by Trump, Ethereum, SOL, XRP, and ADA, also experienced a short-term surge.

The fierce market seems familiar. After Trump was elected as the president of the United States and after the issuance of his own "Trump currency", there was a crazy market in the cryptocurrency market. Tencent News "Cantonese" noticed that in fact, some people have already made arrangements in advance in the market, using about $4 million of initial funds to leverage a long position of $200 million with 50 times leverage, and profiting from this wave of rise by nearly 10 million US dollars.

But looking back at the recent market situations related to Trump, many investors have suffered heavy losses. For example, the "Trump Coin" released three days before Trump officially took office as US President has now fallen by 80% from its highest price.

Although Trump repeatedly proposed the idea of ​​a strategic reserve of digital cryptocurrency during his campaign last year and continued to advance this matter after being elected, the progress is currently limited and he is still in the early discussion and planning stage. The actual detailed plan has not even been officially released, but this does not seem to hinder the new round of market speculation.

On the eve of the announcement of the strategic reserve, someone accurately ambushed 50 times the leverage and went long.

At the morning of March 2, US time, US President Trump suddenly released a message on his personal social media Truth Social, saying that he would continue to promote cryptocurrencies as a strategic reserve.

Trump said, "U.S. crypto reserves will enhance this key industry, which has been under corruption attacks from Biden for many years. Therefore, my digital assets executive order directs the Presidential Working Group to advance its crypto strategic reserves including XRP, SOL and ADA," Trump said. "I will make sure the United States becomes the cryptocurrency capital of the world. We are making the United States great again!"

It is worth noting that Trump's initial tweet did not mention the inclusion of Bitcoin and Ethereum in the strategic reserves, but about an hour later, he retweeted the initial tweet, adding, "It is obvious that Bitcoin and Ethereum, like other valuable cryptocurrencies, will become the center of strategic reserves, and I also love Bitcoin and Ethereum."

Affected by this news, Bitcoin, Ethereum, SOL, XRP, and ADA mentioned by Trump all experienced short-term surges.

On the eve of Trump's announcement of promoting the strategic reserve of cryptocurrencies, some people were already in the news. Some addresses opened positions with 50 times leverage to long Bitcoin and Ethereum, and used about $4 million in funds to leverage positions with a total amount of about $200 million. At that time, the prices of Bitcoin and Ethereum were $85,000 and 2,210 respectively.Near the US dollar.

Leveraged trading can double the profits, and also double the loss. 50 times leverage means that as long as the currency price falls by 2%, the address will be completely liquidated and the money will be lost.

This address was almost at the bottom of the short-term prices of Bitcoin and Ethereum. For a period of time after the address opened, the prices of Bitcoin and Ethereum remained slightly fluctuated near their entry prices.

At the morning of March 2, US time, after Trump announced the promotion of the strategic reserve of cryptocurrencies, the currency price began to soar wildly. Bitcoin rose from around $85,000 to more than $94,000 in less than 2 hours, and Ethereum also rose from around $2,200 to more than $2,500.

During the short-term rapid rise of the currency price, the above 50-fold long addresses began to close positions in an orderly manner.

The last batch of 30 Bitcoin positions at this address were closed at 8:58 am on March 2, US time, and the selling price was US$91,399.26.

A rough calculation shows that the address made a profit of nearly $7 million in less than 24 hours, and based on the initial capital of $4 million, the yield is 175%.

The crazy market for cryptocurrencies driven by Trump has been staged many times

This short-term price surge, driven purely by news, is actually not the first time. Previously, Trump has been advocating the establishment of a strategic reserve of digital cryptocurrencies during his campaign. The market expects that he will fulfill this promise after being elected as US president. Bitcoin soared in a short term, from around $65,000 in early November to an all-time highest price of more than $100,000 in less than a month.

Then Bitcoin then experienced a retracement. After rushing to more than $100,000 again at the end of January, it continued to fluctuate downward, and fell to less than $80,000 at the end of February.

Like a premeditated and meticulous planning, just one day before Trump announced the strategic reserves of cryptocurrencies, the White House officially announced that the cryptocurrency summit will be held on March 7, which seems to be warming up for Trump's next announcement. This series of signals seems to be making clear to the outside world that Trump's focus has gone from previous tariffs, Russia and Ukraine and other issues to return to the cryptocurrency field, and the market has found reasons for hype.

This operation is almost the same as before Trump officially took office as US president more than a month ago. At 6 p.m. on Friday, January 17, US time, just three days before Trump took office as US president, a tweet broke out on his personal official X account, which was about announcing the issuance of TRUMP coins. Then TRUMP coins soared. In the next 15 hours, the price rose by more than 160 times, and the full circulation market value soared from zero to US$30 billion.

Trump currency once rose to more than $70, but then the priceThe price is starting to fall, and the current price is around US$14, down 80% from the highest price. Such ups and downs have caused heavy losses to countless investors who are chasing highs.

Establishing cryptocurrency Strategic Reserves Limited Progress

The news of the United States establishing strategic reserves for digital cryptocurrency assets is the direct catalyst for the latest round and the past few rounds of market surges, but the actual progress is currently very limited.

Trump has been discussing the idea of ​​building a strategic crypto reserve since the 2024 presidential campaign. Shortly after taking office as president in January 2025, he signed a presidential executive order directing a working group to assess the establishment of a strategic crypto-store, which did not explicitly require the United States to set up the reserve directly.

The Executive Order states that the Digital Crypto Assets Working Group should “evaluate the potential to establish and maintain digital asset reserves.”

The latest news this Sunday seems to reflect Trump's further urging the progress of this work. He said the working group should “promote” the formal establishment of the reserve. Earlier, the White House announced that the working group will hold a summit in Japan on March 7, inviting the crypto industry and representatives to participate in the discussion.

Earlier, Senator Cynthia Lummis proposed a bill to recommend that the United States establish a strategic Bitcoin reserve. She first advocated the idea at the Nashville Bitcoin Conference in July, where then-presidential candidate Trump also spoke. Loomis proposed the bill to authorize the U.S. Treasury Department to acquire 1 million bitcoins within five years, accounting for about 5% of the total Bitcoin supply.

At present, legislatures in some states in the United States have proposed corresponding bills in the hope of creating their respective strategic crypto reserves, but most efforts have failed to make substantial progress.

David Sacks, head of cryptocurrency and artificial intelligence affairs at the White House, is a limited partner of Multicoin Capital, which invests in Solana (SOL).

Sax said in an interview in 2021 that he has been “holding” SOL, the native token of Solana. At the same time, Trump's TRUMP coin is also built on Solana.

Short after Trump issued his statement, Sachs said on social platform X that Trump's announcement "is consistent with his first week's executive order."

At the same time, Ripple is in a years-long legal battle with the Securities and Exchange Commission (SEC). The SEC accused Ripple of illegally selling XRP (the native token of the XRP Ledger blockchain supported by Ripple) during Trump’s first term, selling it as an unregistered securities.

In recent months, Ripple is trying to increase its presence in Washington, including to the crypto industrySuper PAC Fairshake has made substantial donations and funded Trump’s 2025 Presidential Inauguration Fund.