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.”

A strategic Bitcoin reserve in the United States reduces the possibility that the government will ever “ban” the cryptocurrency and could encourage many more nations to adopt Bitcoin, according to crypto observers.

The first-of-its-kind reserve will be anchored by a stash of Bitcoin the government already owns, estimated to be worth billions of dollars.

President Trump has signed an executive order to create a national bitcoin stockpile composed of coins seized through criminal and civil proceedings.

Proponents of a strategic Bitcoin reserve argue that nation states should stockpile Bitcoin alongside assets such as gold.

President Donald Trump signed an executive order creating a strategic bitcoin reserve as well as a U.S. digital asset stockpile on Thursday, a day ahead of the White House hosting a crypto summit.

The reserve will hold cryptocurrency forfeited to the government in criminal or civil proceedings, said the White House.

President Donald Trump signed an executive order on Thursday to establish a "strategic Bitcoin reserve" and is hosting a "crypto summit" at the White House.

President Donald Trump signed an executive order establishing a government reserve of Bitcoin, a key marker in the cryptocurrency’s journey toward possible mainstream acceptance.

Bitcoin (BTC-USD) is set to rise 4.6% on a weekly basis as President Donald Trump established a Strategic Bitcoin Reserve and a United States Digital Asset Stockpile through an executive order. The Bitcoin in the reserve is not to be sold.

With US stocks unstable, consumer confidence in the economy plunging and whispers of a potential recession growing less muted, the economy under President Donald Trump's second term has been about as stable as a recovering addict's first week back on blow.