The cryptocurrency euphoria over the weekend was short-lived, as prices remained under pressure after industry watchers voiced skepticism of President Donald Trump's plans to build a strategic crypto reserve.

The prospect of a federal strategic reserve is a major step in President Trump's vision to establish the U.S. as the crypto capital of the world and could be a game changer for the industry.

Some Bitcoiners also believe that a reserve could serve as a hedge against inflation. They point to the fact that the dollar has gotten less valuable over time, and argue that Bitcoin’s value could be stronger than the dollar’s during global economic crises.