Trump pushes for crypto stockpile

[Anchor]

The cryptocurrency market has been buzzing, with Bitcoin prices soaring following a statement from U.S. President Trump.

President Trump announced that he would strategically stockpile five cryptocurrencies, including Bitcoin.

Kim Ji-sook reports from Washington.

[Report]

President Trump has made a surprise announcement that he will strategically stockpile cryptocurrencies.

He stated, "I will make sure the U.S. is the Crypto Capital of the world," and revealed that Bitcoin, Ethereum, and three other cryptocurrencies will be part of this strategic stockpile.

This comes eight months after he declared himself the President of Cryptocurrencies and unveiled his stockpiling plans.

[Donald Trump/U.S. President/July, 2024: "The United States will be the crypto capital of the planet, and the Bitcoin superpower of the world. And we'll get it done."]

Strategic stockpiling is a concept where the government actively purchases important materials to prepare for emergencies.

Oil and gold are key strategic stockpile assets of the United States, and cryptocurrencies are now being considered as the "new gold of the digital age."

The United States is already the largest holder of Bitcoin, possessing over 200,000 Bitcoins.

The market reacted immediately.

Bitcoin has recovered to the $90,000 mark, and other cryptocurrencies like Ethereum surged by as much as 60% at one point.

However, there are no specific plans yet on how much and how to stockpile these cryptocurrencies, so the market is expected to remain volatile for the time being.

Analysts suggest that the U.S. is strategically stockpiling cryptocurrencies to protect the shaky dollar hegemony.

President Trump will discuss specific measures at a cryptocurrency summit on March 7, local time.

This is Kim Ji-sook from KBS News in Washington.