Trump names cryptocurrencies in U.S. strategic reserve, sending prices up

President cites bitcoin, ether, others; move follows industry's support in election

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U.S. President Donald Trump holds a signed executive order on cryptocurrencies in the White House on Jan. 23. © Reuters

WEST PALM BEACH, Florida (Reuters) -- U.S. President Donald Trump on social media announced the names of five digital assets he expects to include in a new U.S. strategic reserve of cryptocurrencies on Sunday, spiking the market value of each.

Trump said in a post on Truth Social that his January executive order on digital assets would create a stockpile of currencies including bitcoin, ether, XRP, solana and cardano. The names had not previously been announced.

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