The prospect of a federal strategic reserve is a major step in President Trump's vision to establish the U.S. as the crypto capital of the world and could be a game changer for the industry.

The announcement received criticism from some crypto leaders, such as Coinbase CEO Brian Armstrong, who had pushed for only including Bitcoin, and 8VC general partner Joe Lonsdale, a Trump supporter who argued the government should stay out of crypto.

In a post on his Truth Social, the president told followers he would create a basket of digital assets similar to the strategic petroleum reserve, which Trump saID would include crypto leaders Solana, Cardano, Bitcoin, and Ethereum. Typically, such reserves are used in times of crisis or supply chain disruptions.