On May 13, President Trump stated, “The markets will likely rise significantly,” and as expected, the cryptocurrency market has begun to rally.
In less than an hour, major cryptocurrencies started surging—driven by widespread investor optimism following Saudi Arabia’s pledge to potentially invest up to $600 billion in the U.S.
One highlight was a $142 billion defense sales agreement involving around a dozen US defense companies.
per CNBC
The White House emphasized that the overarching objective was to establish a collaboration worth around $1 trillion encompassing sectors such as military, technology, economy, security, and more.
The one-hour rally had an
upside to movements
As news about cryptocurrencies circulated, Bitcoin experienced a shift of +0.5%, now trading at
$104,165.89
, as
per Kraken
Ethereum increased by 0.7%, and XRP also experienced a 0.7% rise.
Other cryptocurrencies such as Solana increased by 1.1%, BNB had a gain of +0.4%, Dogecoin rose by 2%, and both TRON and Cardano went up by 0.5% and 0.8% respectively.
Although President Trump’s remarks were directed at conventional markets, the cryptocurrency sector appeared to view the agreement between Saudi Arabia and the United States as a positive indicator.