Now, as a leak reveals Russia could beat the U.S. to a bitcoin reserve, Trump has been pitched a "capital markets renaissance fueled" by bitcoin to "unlock trillions in wealth" by MicroStrategy founder Michael Saylor.

Ether, Solana’s SOL, Cardano’s ADA, xrp (XRP) and bnb (BNB) fell as much as 16%, while memecoin dogecoin (DOGE) fell over 27%, data shows. Crypto market capitalization is down more than 11% in the past 24 hours, one of the worst single-day drops in the year.

Bitcoin led a crypto market correction early Monday, taking BTC to the $92,762 level and putting it down over 12% over the last seven days.

Japan's National Police Agency said on Tuesday that the hacker group TraderTraitor, which is based in North Korea, is likely responsible for a May hack that allowed $308 million in Bitcoin to be taken

"These types of things never go on forever and often end poorly," Steve Sosnick said of MicroStrategy's leveraged bitcoin bet.

MicroStrategy Inc., which is set to enter the Nasdaq 100 Index on Monday, announced it had purchased an additional $561 million of Bitcoin at an average price near last week’s record high.

The company, the largest corporate holder of the cryptocurrency, continued a string of weekly purchases that began in early November.