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Donald Trump's plan to hold cryptocurrencies like bitcoin and ether as a strategic reserve using taxpayer money raises concerns due to their volatility. This move, alongside rolling back crypto regulations, aims to institutionalize cryptos but also undermines central banks' autonomy. Central bankers are unlikely to stockpile such volatile assets, preferring fiat coins for stability.

Pi Coin Price Today: After US President Trump announced to set up a crypto reserve, major cryptocurrencies like Bitcoin, Ethereum, Solana and Cardano zoomed significantly. However, Pi coin, which was introduced in the open market a few days ago, did not pick up the same momentum as the major cryptocurrencies and was in negative territory, meanwhile.

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Bitcoin's market capitalization dropped to $1.679 trillion, with its dominance at 59.73%. Its 24-hour trading volume fell by 15.85% to $67.18 billion, with stablecoins making up $146.59 billion, or 95.08%, of the total volume, according to CoinMarketCap.

Bitcoin has plunged roughly 20% from a record high since Trumps January inauguration, as his combative stance against allies and geopolitical rivals alike shakes investor confidence, and concerns about elevated inflation linger. The crypto sector was also shook by a record hack of the Bybit exchange last week.

Bitcoin, the world's largest cryptocurrency by market value, dropped 5% to $84,201.