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.

While it’s not known exactly what form such a strategic reserve would take, nor whether the government would seek to buy crypto for the stockpile with taxpayer dollars — a move that would theoretically require approval from Congress — blockchain enthusiasts cheered the news.