President Donald Trump signed an executive order on Thursday to create a “strategic bitcoin reserve” by stockpiling cryptocurrency assets seized through law enforcement.

This move aims to support the digital assets industry by directing federal agencies to retain bitcoin and develop strategies to acquire more without incurring costs to taxpayers. Additionally, a “U.S. Digital Asset Stockpile” will be established to hold other cryptocurrencies seized by the government.

This order is part of a broader initiative to support the crypto industry and is followed by a Bitcoin summit at the White House featuring notable figures in the digital assets sector.