The price of Bitcoin surged by 11.8%, reaching $94,125, after former President Donald Trump announced the inclusion of five cryptocurrencies, including Bitcoin, in the new strategic reserve of the United States.

Trump explained that this move is part of the executive order he issued last January, which aims to create a stockpile of digital assets, including Bitcoin, Ether (ETH), XRP, Solana (SOL), and Cardano (ADA).

This announcement had a significant impact on the cryptocurrency market, where the digital currencies included in the reserve saw notable gains, ranging from 8% to 62% during trading on Sunday.

In his statements, Trump reaffirmed his intention to turn the United States into "the capital of cryptocurrencies in the world," noting the importance of enhancing the infrastructure for digital assets in the country.

This increase comes in the wake of a week of volatility, during which Bitcoin experienced a decline of over 11%, marking its worst weekly performance since the collapse of the FTX platform in 2022.