New Delhi, March 7 -- Bitcoin prices fell over 5% on Friday after White House crypto czar David Sacks indicated that the US government wouldn't use taxpayer money to fund a strategic stockpile of the largest digital asset ordered by President Donald Trump.

Bitcoin price dropped as much as 4.63% to $87,925 as of 10:35 AM. Prices of other smaller digital tokens including Ethereum, XRP, Cardano and Solana also dropped up to 5%.

Earlier, US President Donald Trump signed an executive order to establish a strategic bitcoin reserve, a day before meeting with executives from the cryptocurrency industry at the White House.

The reserve will be capitalized with bitcoin owned by the federal government that was forfeited as part of criminal or civi...