The first-of-its-kind reserve will be anchored by a stash of Bitcoin the government already owns, estimated to be worth billions of dollars.

The bitcoin stockpile, which presumably will be the larger of the two, amounts to “a virtual Fort Knox for digital gold,” Trump said during a crypto summit at the White House earlier today. “‘Never sell your bitcoin.

Trump’s executive order establishes a Bitcoin reserve while relegating other cryptos to a stockpile. Market reaction, insider concerns, and policy implications unpacked.