President Donald Trump reacted after U.S. stocks surged Friday, pushing the Dow past 50,000 as technology shares powered a market rebound.

American Bitcoin’s reserve growth places it ahead of GameStop and Nakamoto Inc. among corporate bitcoin holders.

American Bitcoin, a Trump-family-backed miner, has grown its bitcoin holdings to about 5,843 BTC, making it one of the largest corporate holders.

Trump-backed cryptocurrency project World Liberty Financial has offloaded $5 million in Bitcoin as the coin's price crash to 2021 levels

Bitcoin has plunged from an all-time high of more than $126K in October by nearly 50 percent, even as the president has paved a new era for the industry in Washington.

On February 5, Bitcoin's price dropped to $69,231.67, marking a 15-month low. The cryptocurrency has lost over 44% since its peak in October 2021.

The post-Trump election victory Bitcoin surge has been wiped out as the cryptocurrency drops below £50,000.

By Hannah Lang Feb 5 (Reuters) - Turbulence in the cryptocurrency market is dragging down shares of companies that hold bitcoin and other digital assets on their balance sheets, sparking concerns over potential broader strains in the sector.