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.

The order signaled that the president intends to promote an industry that faced scrutiny during the Biden administration — and that he has a personal stake in.