Cryptocurrency prices jumped after Trump’s surprise announcement he wants the U.S. government to purchase and hold a variety of digital assets in a strategic reserve fund.

President Donald Trump said Sunday that he is directing his newly created digital assets working group to move forward on creating a “crypto strategic reserve” along the lines of existing U.S. reserves of gold and oil.

President Donald Trump announced plans to form the United States’ first strategic cryptocurrency reserve (SCR). Trump shared the news on his social media platform Truth Social, stating that the reserve will include Bitcoin,