The Trump White House recently announced a project that the crypto industry loves, skeptics hate, and that most people, reasonably, don’t really care about: a “bitcoin strategic reserve.”

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.

Trump’s executive order establishes a Bitcoin reserve while relegating other cryptos to a stockpile. Market reaction, insider concerns, and policy implications unpacked.