While many crypto executives have been vocal supporters of Trump, spending millions on his campaign and publicly endorsing him, the two factions are clashing for the first time si

Bitcoin backpedaled on Monday after an early rise following U.S. President Donald Trump's weekend proposal for a national strategic reserve of cryptocurrencies.

Some Bitcoiners also believe that a reserve could serve as a hedge against inflation. They point to the fact that the dollar has gotten less valuable over time, and argue that Bitcoin’s value could be stronger than the dollar’s during global economic crises.