President Trump signed an executive order to establish a federal working group, including key agencies like the Treasury, SEC, and CFTC, tasked with drafting a comprehensive regulatory framework for digital assets. The group will provide recommendation on creating a national digital asset stockpile and propose legislative actions to secure the U.S.’s dominance in the global crypto market.

The announcement set off speculation that other countries would follow suit on creating stockpiles. If executed, the country demand would drive crypto prices significantly higher. Blackrock's CEO said the actions could push Bitcoin to $700,000 per coin - a 700% increase.

The U.S. gold stockpile, for benchmarking, sits at a value of about $500 Billion.

Crypto advocates, such as Coinbase executives, praised the administration for recognizing the industry's potential, though some Bitcoin enthusiasts expressed disappointment over the lack of immediate government investment in major cryptocurrencies. Additionally, Trump’s directive includes plans to promote private sector partnerships and solidify the U.S. as a global hub for digital innovation.

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