Trump once again supports cryptocurrency. Bitcoin surges. Someone precisely ambushed and made a profit. It is suspected to be a rat trade.

The cryptocurrency market is once again in an uproar because of a tweet from US President Trump that he will promote the strategic reserve of digital cryptocurrencies. Influenced by the news, the cryptocurrency market rose across the board, and Bitcoin soared in less than an hour after the news, rising above $90,000 again. In addition, other cryptocurrencies mentioned by Trump, such as Ethereum, SOL, XRP, and ADA, also saw a short-term surge.

The fierce market seems familiar. After Trump was elected as the US president and issued his own "Trump Coin", the cryptocurrency market has seen a crazy market. Tencent News "Qianwang" noticed that in fact, some people in the market had already made arrangements in advance, using an initial capital of about 4 million US dollars to leverage a long position of 200 million US dollars with a 50-fold leverage, and made a profit of nearly 10 million US dollars from this wave of rise.

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

Although Trump proposed the idea of ​​a strategic reserve of digital cryptocurrencies many times during his campaign last year and continued to push for this matter after his election, progress has been limited and it is still in the early discussion and planning stages. The actual detailed plan has not even been officially released, but this does not seem to hinder a new round of market speculation.

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

On the morning of March 2nd, U.S. time, U.S. President Trump suddenly released a message on his personal social media Truth Social, stating that he will continue to promote encrypted digital currencies as a national strategic reserve.

Trump said, "A U.S. crypto reserve will boost this critical industry, which has been under corrupt attack from the Biden Administration for years. Therefore, my digital asset executive order directs the Presidential Task Force to advance a strategic crypto reserve consisting of XRP, SOL, and ADA," Trump said. "I will ensure that the United States becomes the cryptocurrency capital of the world. We are making America great again!"

It is worth noting that Trump’s initial tweet did not mention the inclusion of Bitcoin and Ethereum in the strategic reserve, but about an hour later, he retweeted the original tweet, adding, “Obviously, Bitcoin and Ethereum, like other valuable cryptocurrencies, will be at the center of the strategic reserve, and I love Bitcoin and Ethereum.”

Influenced by the news, Bitcoin, Ethereum, SOL, XRP, and ADA mentioned by Trump all experienced a short-term surge in prices.

On the eve of Trump's announcement of the promotion of strategic reserves of encrypted digital currencies, some people had already heard the news and some addresses opened long positions in Bitcoin and Ethereum with 50x leverage, using about $4 million in funds to leverage a total position of about $200 million. At that time, the prices of Bitcoin and Ethereum were around $85,000 and $2,210, respectively.

Leveraged trading can multiply profits, but it can also multiply losses. A 50x leverage means that if the price of the coin drops by 2%, all the assets in the address will be liquidated, and all the money will be lost.

This address bought almost at the bottom of the short-term price of Bitcoin and Ethereum. For a period of time after the address opened a position, the prices of Bitcoin and Ethereum maintained slight fluctuations near their entry prices.

On the morning of March 2, US time, after Trump announced the promotion of strategic reserves of encrypted digital currencies, the price of currencies began to soar wildly. Bitcoin rose from around US$85,000 to over US$94,000 in less than 2 hours, and Ethereum also rose from around US$2,200 to over US$2,500.

During the period when the coin price was rising wildly in the short term, the above-mentioned 50x long addresses began to close their positions in an orderly manner.

The last batch of 30 bitcoins in this address were all closed at 8:58 a.m. on March 2, U.S. time, with a selling price of $91,399.26.

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

Trump's crazy cryptocurrency market has been staged many times

This short-term surge in the price of bitcoins driven purely by news is actually not the first time. During his campaign, Trump had been advocating the establishment of a strategic reserve of digital cryptocurrencies. The market expected him to fulfill this promise after being elected as the US president. Bitcoin experienced a short-term surge, soaring from around $65,000 in early November to a record high of more than $100,000 in less than a month.

Bitcoin then experienced a round of pullback. After rising again to over $100,000 at the end of January, it continued to fluctuate downward, and by the end of February it had fallen to less than $80,000.

Like a premeditated and carefully planned, just one day before Trump announced the strategic reserve of cryptocurrency, 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 make it clear to the outside world that Trump's focus has shifted from previous tariffs, Russia-Ukraine and other issues to the field of cryptocurrency, and the market has found a reason to hype it up again.

This operation is almost exactly the same as what Trump did more than a month ago before he officially took office as the US President. At 6 p.m. on Friday, January 17, US time, just three days before Trump took office as the US President, his personal official X account suddenly posted a tweet announcing the issuance of TRUMP coins. Subsequently, TRUMP coins skyrocketed. 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.

Trumpcoin once rose to more than $70, but then the price began to fall. The current price is around $14, down 80% from the highest price. Such ups and downs have caused heavy losses to countless investors who bought at high prices.

Limited progress in establishing a national strategic reserve of cryptocurrencies

The news that the United States has established a strategic reserve of digital cryptocurrency assets is the direct catalyst for this latest round of market surges, as well as the past few rounds, but actual progress has been very limited.

Trump has been discussing the idea of ​​establishing a strategic crypto reserve since his 2024 presidential campaign. Shortly after taking office in January 2025, he signed an executive order directing a working group to evaluate the establishment of a strategic crypto reserve, but the order did not explicitly require the United States to directly establish the reserve.

The executive order states that the Digital Crypto-Assets Working Group should “evaluate the potential for establishing and maintaining a national digital asset reserve.”

The latest news on Sunday seems to reflect that Trump is further urging the advancement of this work. He said that the working group should "advance" the formal establishment of the reserve. Previously, the White House announced that the working group will hold a summit on March 7, inviting representatives of the crypto industry and government to participate in the discussion.

Previously, Senator Cynthia Lummis had introduced a bill that recommended 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. The bill proposed by Lummis would authorize the U.S. Treasury to acquire 1 million Bitcoins within five years, accounting for about 5% of the total supply of Bitcoin.

Currently, legislatures in some U.S. states have proposed corresponding bills in the hope of creating their own strategic crypto reserves, but most efforts have failed to make substantial progress.

David Sacks, the White House’s top cryptocurrency and AI advisor, is a limited partner at Multicoin Capital, which invested in Solana (SOL).

Sachs said in a 2021 interview that he has been “holding” SOL, Solana’s native token. Meanwhile, Trump’s TRUMP coin is also built on Solana.

Shortly after Trump issued his statement, Sachs said on the social platform X that Trump's announcement was "consistent with his first week of executive orders."

Meanwhile, Ripple is engaged in a years-long legal battle with the U.S. Securities and Exchange Commission (SEC), which accuses Ripple of illegally selling XRP, the native token of the Ripple-backed XRP Ledger blockchain, as unregistered securities during Trump’s first term.

In recent months, Ripple has sought to increase its influence in Washington, including making large donations to crypto industry super PAC Fairshake and providing money to Trump's 2025 presidential inauguration fund.