Cryptocurrency prices jumped after Trump’s surprise announcement he wants the U.S. government to purchase and hold a variety of digital assets in a strategic reserve fund.

While it’s not known exactly what form such a strategic reserve would take, nor whether the government would seek to buy crypto for the stockpile with taxpayer dollars — a move that would theoretically require approval from Congress — blockchain enthusiasts cheered the news.

Donald Trump was able to reverse the first slump in digital assets since he took office with some new promises about a US strategic reserve of cryptocurrencies.