Trump orders administration to evaluate potential for ‘national digital asset stockpile’
In keeping with his pledge to encourage the use of cryptocurrencies like bitcoin, President Donald Trump declared Thursday that his administration will consider the possibility of establishing a "national digital asset stockpile."
His executive action did not, however, completely establish a strategic bitcoin reserve, as some cryptocurrency supporters had hoped.
The news caused a temporary spike in the price of bitcoin, but when traders assessed the move, it dropped back to its daily lows.
Although the concept of a strategic reserve of digital tokens, such as bitcoin, has been around for a while, it gained popularity this summer after Trump and Robert F. Kennedy Jr., Trump's candidate for secretary of health and human services, spoke about it at the annual Bitcoin conference.
In a December...