Donald Trump’s Pro-Crypto Push Boosts PH Markets

On Sunday, US President Donald Trump took to Truth Social to unveil a bold plan, revealing five digital currencies—Bitcoin, Ether, XRP, Solana, and Cardano—that he intends to include in a groundbreaking US strategic cryptocurrency reserve. The announcement sent shockwaves through the crypto world, igniting a surge in market values for each named asset.

In his post, Trump outlined how his January executive order on digital assets would establish this reserve, a move he hadnt detailed until now. About an hour later, he doubled down, saying, “And, obviously, BTC and ETH, as other valuable Cryptocurrencies, will be at the heart of the Reserve.” The market reacted swiftly: Bitcoin, the heavyweight of cryptocurrencies, soared over 11% to USD 94,164, while Ether climbed 13% to USD 2,516 by Sunday afternoon.

Trumps Pro-Crypto Reserve Sparks Market Surge

The broader cryptocurrency market wasn‘t left behind, ballooning by roughly 10%—a staggering USD 300 billion jump—within hours, according to CoinGecko’s data. For context, XRP, tied to Ripple Labs, also rode the wave. Ripple, a key player in the crypto space, had previously flexed its political muscle by supporting a super PAC to sway Novembers congressional elections in favor of crypto-friendly policies, as Reuters noted.

Federico Brokate, head of US business at 21Shares, called it a game-changer. “This move signals a shift toward active participation in the crypto economy by the US government,” he said. “It has the potential to accelerate institutional adoption, provide greater regulatory clarity, and strengthen the USs leadership in digital asset innovation.” The Philippines, with its growing crypto adoption, stands to feel the ripple effects as global markets align with this pro-crypto stance.

Not everyone saw it coming the same way. James Butterfill of CoinShares expressed surprise at the inclusion of assets beyond Bitcoin. “Unlike bitcoin…these assets are more akin to tech investments,” he remarked. “The announcement suggests a more patriotic stance toward the broader crypto technology space, with little regard for the fundamental qualities of these assets.” For PH markets, this could mean increased interest in altcoins like Solana and Cardano, diversifying local crypto portfolios.

Donald Trumps Pro-Crypto Shift Fuels PH Hopes

Trump‘s pro-crypto pivot isn’t new. He garnered hefty support from the industry during his 2024 campaign and has wasted no time pushing their agenda. This Friday, he‘ll host the first White House Crypto Summit, while his family has already dipped into the market with their own coins. It’s a stark contrast to the Biden era, where regulators clamped down on crypto to curb fraud and money laundering. Under Trump, the SEC has reversed course, dropping probes into crypto firms and a lawsuit against Coinbase, the USs biggest exchange.

Yet, the crypto market‘s recent rollercoaster tells a cautionary tale. Prices have slumped, wiping out much of the post-election euphoria that followed Trump’s win. Analysts argue the market craves a catalyst—perhaps a Federal Reserve rate cut or a solid regulatory framework from Trumps team—to climb higher. In the Philippines, where crypto trading has gained traction, such developments could stabilize local enthusiasm.

PH Markets Eye Trumps Crypto Vision Gains

Standard Chartered‘s Geoff Kendrick remains bullish, predicting Bitcoin could hit USD 500,000 before Trump’s term ends, far surpassing its record high of USD 109,071. Meanwhile, US regulatory filings reveal hedge funds still lead crypto buying, but banks and sovereign wealth funds are joining the fray. Asset managers also upped their stakes in Bitcoin-tied ETFs in Q4 2024, signaling institutional confidence that could spill over to PH markets.

Questions linger about the reserve‘s logistics. Will Congress need to greenlight it, or can the Treasury tap its Exchange Stabilization Fund, historically used for foreign currencies? Some suggest leveraging cryptocurrencies seized in law enforcement busts, a plan Trump’s crypto team has floated.

For the Philippines, Trump‘s pro-crypto stance could amplify an already vibrant scene. With remittances and trading on the rise, a US-led crypto boom might bolster local exchanges and investor sentiment. Still, the market’s volatility underscores the need for clarity—something Trumps administration has yet to fully deliver. As the White House Crypto Summit looms, all eyes, including those in Manila, will be on what comes next.