Crypto experts told Newsweek the president's recent actions acted as a mark of legitimacy for the digital asset class.

U.S. President Donald Trump has signed an executive order to establish a strategic reserve of cryptocurrencies by using tokens already owned by the government, disappointing some in the market who had hoped for a firm plan to buy new tokens.

Trump's order requires all federal agencies currently holding bitcoins seized as part of a criminal or civil asset forfeiture proceeding to transfer those bitcoins to the Treasury Department, which itself already has a store of bitcoins. Additionally, any other digital assets forfeited will be collected in a separate Digital Assets Stockpile.

Under Trump’s new order, the U.S. government will retain the estimated 200,000 bitcoin it’s already seized in criminal and civil proceedings, , according to Trump’s “crypto czar” David Sacks.