Bitcoin dips to 11-day low despite Trump's pursuit of 'strategic reserve'

The price of Bitcoin is displayed at the Upbit Lounge in Gangnam District, southern Seoul, on March 11.

Despite U.S. President Donald Trump's determination to create a strategic stockpile of the cryptocurrency, the price of Bitcoin fell more than 3 percent on the morning of March 11 in Asia. In Korea, the token was trading around $79,721 at 12:25 p.m., falling below the $80,000 mark for the first time in 11 days. The loss followed a heavy U.S. stock sell-off on Monday as President Donald Trump's tariff threats continued to push fears of a recession, with the S&P 500 falling more than 3 percent Monday afternoon.