Bitcoin surged more than 20% from last week's lows on Monday, along with several other cryptocurrencies that Trump said would be included in a new U.S. strategic reserve, Reuters reports .

Trump announced the creation of a strategic cryptocurrency reserve on the Truth Social social network. According to him, the reserve will include BTC, ETH, XRP, SOL, ADA.
The appearance of this news provoked a sharp increase in the aforementioned coins.

The White House leader also wrote that Bitcoin and Ethereum will form the basis of the cryptocurrency reserve.

Following the release, BTC has surged 20% from its November lows on Friday, as sentiment around the flagship cryptocurrency has improved sharply after falling since mid-January amid concerns that Trump has failed to deliver on his pledges to loosen regulations.

"Trump has given crypto traders the boost they've been waiting for," said Matt Simpson, senior market analyst at City Index.

"All the faith that was lost last week appears to have been restored," he said, and new highs could be achieved unless there is another wave of sell-off in risk assets.

Chris Weston, head of research at Australia's Pepperstone, said the rally could continue at Trump's first White House Crypto Summit on Friday.