Key Takeaways U.S. President Donald Trump on Thursday signed an executive order to establish U.S. dominance in digital assets and financial technology.While partly delivering on a campaign promise to create a bitcoin stockpile,

During 2024’s presidential election, the crypto industry gave generously to Donald Trump, lobbying hard for him to win. Now that their guy is in the White House, they’re hoping he will deliver on his promise to make America the “world capital” of cryptocurrency.

President Trump's Jan. 23 executive order creates a crypto task force to craft rules and study a national reserve or stockpile of digital assets.

It hit a record high above $109,000 on Monday as Trump took to the White House for the second time. The popular altcoin XRP, used to facilitate transactions on Ripple’s payment platform, is up 1% to $3.

"The executive order, as a whole, is mostly aspirational and symbolic. But the direction it points, I think, is quite bullish," a crypto market source told BI.

President Donald Trump signed an executive order on Thursday that would possibly create a national digital asset stockpile for the first time along with promoting the advancement of cryptocurrencies.

Bitcoin and other cryptocurrencies recoiled after Trump's first set of policies following inauguration did not refer to this asset class.