Bitcoin declined on Monday amid ongoing volatility following President Donald Trump’s executive order to establish a U.S. Strategic Bitcoin Reserve.
Bitcoin was trading at $81,712, down over 5 per cent but recovering from earlier lows, according to Coin Metrics.
The reserve will be funded with bitcoin seized in criminal and civil forfeiture cases, with no plans for additional government purchases. Following the announcement last Thursday, crypto prices fell as investors were disappointed by the lack of a more aggressive approach.