Saylor predicted Trump and U.S. lawmakers could buy between 4 million and 6 million bitcoin in as little as 12 months, claiming it would deliver benefits of “$50 trillion to $80 trillion” for U.S. taxpayers and help drive down the spiraling U.S. debt pile.

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Crypto stocks have remained on edge in the past few weeks as Bitcoin and other altcoins have pulled back. Bitcoin price has retreated by over 10% from its all-time high, triggering a bigger sell-off on other altcoins.

The tokens have struggled since President Trump's inauguration amid fears that sticky inflation could keep interest rates elevated.