Bitcoin fell after US crypto czar David Sacks indicated that the government wouldn’t use taxpayer money to fund a strategic stockpile of the largest digital asset ordered by President Donald Trump.

Bitcoin dropped as much as 5.7% before narrowing the loss to 2.1% at $87,927 as of 10.19 a.m. Singapore time. Other smaller digital tokens including Ether, XRP, Cardano and Solana were also down at least 2%.