Trump orders administration to evaluate potential for “national digital asset stockpile”

The price of bitcoin briefly soared on the president's directive, but it appeared to fall short of crypto advocates’ expectations

di Rob Wyle

President Donald Trump announced that his administration will evaluate whether to create a “national digital asset stockpile” - making good on a promise to support the use of cryptocurrencies like bitcoin.

However, his executive order fell short of creating a strategic bitcoin reserve outright, as some crypto advocates had hoped.    

The price of bitcoin briefly surged on the news, but fell back to daily lows as traders took stock of the move.
The idea of a strategic reserve of digital tokens like bitcoin has long been floated in cryptocurrency circles, but gained traction this summer, when both Trump and Robert F. Kennedy Jr., Trump's nominee for Health and Human Services Secretary, discussed it at the annual Bitcoin conference.

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