President Trump's Jan. 23 executive order creates a crypto task force to craft rules and study a national reserve or stockpile of digital assets.

"The executive order, as a whole, is mostly aspirational and symbolic. But the direction it points, I think, is quite bullish," a crypto market source told BI.

President Donald Trump signed an executive order on Thursday that would possibly create a national digital asset stockpile for the first time along with promoting the advancement of cryptocurrencies.