Bitcoin, the world’s most popular cryptocurrency, was trading at about $89,000 as the U.S. stock market opened. That’s down from about $106,000, which was the price around Trump’s inauguration. The decline in bitcoin and other crypto assets accelerated after a report showed a bigger-than-expected drop in consumer confidence for this month.

Bitcoin has tumbled roughly 20% since Trump's inauguration, as his combative stance shakes investor confidence and concerns about inflation linger.

The cryptocurrency market is experiencing a dramatic reversal of fortune as Bitcoin has plunged below $90,000, reaching its lowest level since mid-November. This decline marks a significant departure from the buoyant rally that followed President Trump’s election,

Also: Apple announces $500 billion investment, but UBS has doubts, a conversation with Levi Strauss CEO Michelle Gass.

Strategy, the self-styled Bitcoin treasury company that until recently was known as MicroStrategy, said it acquired $1.99 billion more of the cryptocurrency with the proceeds from last week’s convertible bond sale.

MicroStrategy disclosed in a form filed with the U.S. Securities and Exchange Commission that it had bought more than 20,000 digital tokens after a week without any purchases. The software company said it acquired 20,