President Trump has announced plans for a "Crypto Strategic Reserve," which would set up the United States to buy and sell cryptocurrency and could be a game changer for the industry.
In posts on Truth Social on Sunday, Trump said a reserve was in the works as part of his executive order on digital assets issued in January. He said the reserve is slated to hold five cryptocurrencies — bitcoin, ether, XRP, solana and cardano.
After a record-setting 2024, many analysts believe bitcoin and other cryptocurrencies could see another big surge this year.
The prospect of a reserve is a major step in Trump's vision to establish the U.S. as the crypto capital of the world — which was one of his promises during his bid for president last year.
1.The U.S. already has strategic stockpiles of other assets.
The U.S. already has several strategic stockpiles, including military and medical equipment. The idea is that the government can tap into these special stashes in times of need.
2.The reserve would hold five types of cryptocurrency.
3.A senator's bill outlined how a federal strategic reserve could work.
Trump has not released more details on the plans for a crypto strategic reserve. But a few proposals have been put forward about what it could look like.
Last year, A Republican Sen. introduced a bill to establish a bitcoin strategic reserve, directing the federal government to buy 1 million bitcoins — worth more than $86 billion at today's prices — over the course of five years.The reserve would hold five types of cryptocurrency.
4.Trump has ties to crypto and has prominent supporters in the industry.