Jean Rausis, founder of the decentralized exchange SmarDex, said US President Donald Trump's announcement of the creation of a US strategic cryptocurrency reserve could have a major boost for cryptocurrencies and signalled that the sell-off in recent weeks was "irrelevant". "When he [Trump] says he wants the US to become the world's cryptocurrency capital, he means it," said Rausis. "Against this backdrop, the small sell-off we've seen recently is completely irrelevant and just provides an opportunity to buy at a lower price." For cryptocurrency traders, the prospect of cryptocurrency reserves is far more important than fears that tariffs will hurt interest in risky assets, he said.