Bitcoin and cryptocurrencies have been embraced by world leaders in recent years

With U.S. president Donald Trump reportedly planning to buy up huge swathes of bitcoin.

U.S. president Donald Trump’s administration is planning to buy up huge swathes of bitcoin (BTC) and crypto to diversify the country's strategic reserves, according to a report by Blockware Solutions.

The report claims that Trump’s administration is also planning to freeze any planned sale of bitcoin and crypto that the U.S. has seized.

The Trump administration’s plans to sell seized bitcoin and crypto were announced last year and had sparked a sell-off in the crypto markets.

However, Trump’s administration is now said to be planning to use bitcoin and crypto to diversify the country’s strategic reserves, which are currently largely held in U.S. dollar-denominated assets.

The report also claims that Trump’s administration is planning to take a more active role in regulating the crypto industry.

This could include setting up a new regulatory framework for crypto exchanges and issuing guidance on how cryptocurrencies can be used by U.S. businesses.

Trump’s administration is reportedly planning to buy up huge swathes of bitcoin (BTC) and crypto to diversify the country's strategic reserves.

The president’s son, Eric Trump, has reportedly been advising his father on crypto matters and has recommended that the administration take a more bullish approach to crypto.

Trump has spoken favorably of bitcoin and crypto in recent years, meeting with executives from major crypto companies and discussing the potential of blockchain technology.

In 2019, Trump said that he was "not a big fan of bitcoin" but that he "thought it was interesting" and was "following it closely."

However, he later changed his tune on bitcoin, saying in 2020 that he was "a big fan" of the cryptocurrency and that he thought it had "tremendous potential."

Trump's administration has also taken steps to open up the U.S. to bitcoin and crypto, such as rolling back Obama-era regulations that had hampered the use of crypto for cross-border payments.

The administration has also moved to impose sanctions on North Korea and other countries that are using crypto to fund illicit activities.

Trump's administration is reportedly planning to buy up huge swathes of bitcoin (BTC) and crypto to diversify the country's strategic reserves.

The president’s son, Eric Trump, has reportedly been advising his father on crypto matters and has recommended that the administration take a more bullish approach to crypto.

Trump has spoken favorably of bitcoin and crypto in recent years, meeting with executives from major crypto companies and discussing the potential of blockchain technology.

In 2019, Trump said that he was "not a big fan of bitcoin" but that he "thought it was interesting" and was "following it closely."

However, he later changed his tune on bitcoin, saying in 2020 that he was "a big fan" of the cryptocurrency and that he thought it had "tremendous potential."

Trump's administration has also taken steps to open up the U.S. to bitcoin and crypto, such as rolling back Obama-era regulations that had hampered the use of crypto for cross-border payments.

The administration has also moved to impose sanctions on North Korea and other countries that are using crypto to fund illicit activities.