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.

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

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.