Bitcoin rose sharply and could extend its recovery after President Trump announced the creation of a U.S. strategic crypto reserve, XTB’s Kathleen Brooks said.

“Ironically, a [cryptocurrency] that was designed to be isolated from government interference and decentralized, is now reliant on the U.S. government for its fortunes,” she said.

Investors in the options market are betting on further gains for cryptocurrencies following Trump’s announcement. Bitcoin could rise back to $100,000 as part of a broad-based recovery in crypto, she said.