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.

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.

A backlash over President Donald Trump’s plan to include three small and relatively risky tokens in an eagerly awaited U.S. strategic crypto reserve helped largely erase a rally for bitcoin and other digital assets on Monday.