Trump's Crypto Reserve Currency Plan

I am mystified at how a crypto reserve currency would be any different from the existing fiat system. Both are based on essentially nothing. Even worse, crypto requires enormous amounts of electrical energy to "mine" the routines that all admit are finite in quantity. Okay, the finite nature of the beast is akin to the scarcity of highly valued metals, but we previously dumped the "gold standard" in order to massively increase the money supply. The only advantage I can find in the deal is for the current owners of crypto "assets", just like in a Ponzi scheme. The first in win, the last lose.