Trump told CNBC in an interview that they are going to do great things with crypto because they don't want China or anyone else. Maybe that's why they confirmed the Bitcoin reserve plan.
If this is the reason, then I believe they will do it anyway. China has banned Bitcoin multiple times since 2015. If I am not wrong, Bitcoin is still banned in China, while the USA has approved Bitcoin ETF. China and the US are known as rivals in technology and economy. Since China is avoiding crypto technology, it is time for the US to shine in this sector.
If the US can implement what they have planned so far, they will be the strongest economy in the world (I guess they are already). China will regret their decision in the future. Probably, they are regretting it already.