President Donald Trump has announced plans to create a strategic crypto reserve, shifting gears from his earlier promise to stockpile Bitcoin. Trump’s cryptocurrency reserve will consist of Bitcoin, often referred to as “digital gold” for its ability to hedge against inflation,

Trump’s plans for a crypto reserve including bitcoin and XRP drew skepticism from the likes of Coinbase’s billionaire CEO Brian Armstrong and Palantir cofounder Joe Lonsdale, as a crypto rally began fizzling on Monday.

Donald Trump’s announcement that the US will include three lesser-known digital tokens in its strategic crypto reserve was greeted with skepticism in the industry, with investors questioning the project’s merits and the coins he selected giving up some of their initial gains from Sunday.