U.S. President Donald Trump has signed an executive order to establish a strategic reserve of cryptocurrencies by using tokens already owned by the government, disappointing some in the market who had hoped for a firm plan to buy new tokens.

Similar to how the government has a reserve of other currencies such as gold, this reserve houses the country's digital currency.

President Trump signed an executive order to establish a 'Strategic Bitcoin Reserve' and a 'U.S. Digital Asset Stockpile' ahead of the White House's first crypto summit.