Bitcoin turned higher on Monday after President Donald Trump said he had become "a big crypto guy," reversing earlier losses that followed disclosure that Strategy had sold about $216 million worth of bitcoin. The cryptocurrency was trading at $63,624.44, up 1.5% on the day after having fallen more than 2% earlier in the session and nearing $60,000. Trump made the remarks at a news conference when asked whether bitcoin might be included in the newly launched Trump Accounts, tax-advantaged 503A savings accounts designed to help children build long-term savings through investments in broad-market exchange-traded funds.
Earlier in the day, pressure on bitcoin came from a regulatory filing by Strategy, the company led by Michael Saylor, showing additional sales of its holdings. The company sold roughly $80.8 million worth of bitcoin between June 29 and 30 at an average price of $59,256 per token, followed by another $135.5 million sold between July 1 and 5. The transactions left Strategy with 843,775 bitcoin valued at about $52.1 billion, while its average cost per token stood at $75,476. The sale marked a further departure from the company’s earlier long-standing stance that it would not sell bitcoin.
Analysts offered differing interpretations of Strategy’s move. Barclays analyst Ajay Rajadhyaksha said the company’s willingness to sell, after building its investment case around a public commitment not to do so, dealt a meaningful blow to market sentiment. Cantor analyst Ramsey El-Assal, however, argued the sales appeared aimed at supporting Strategy’s preferred stock, STRC, rather than signaling a negative view on bitcoin itself. He described the preferred shares as the company’s "center of gravity" and said management appeared focused on balancing the interests of preferred shareholders, common shareholders and bitcoin investors. Strategy shares rose 1% on Monday, while STRC gained nearly 3%.
The market move unfolded against a broader debate over how much influence the Trump administration can exert on bitcoin’s trajectory. Trump has promoted himself as strongly supportive of the crypto industry, and his administration has backed measures that supporters say could improve the regulatory environment, including the Digital Asset Market Clarity Act and the Strategic Bitcoin Reserve. Some legal and academic experts say clearer rules could bolster institutional confidence and support prices indirectly by reducing uncertainty. Others argue any effect would be limited, noting bitcoin remains a decentralized global asset shaped by broader market conditions. That skepticism has been reinforced by bitcoin’s wider decline this year and by losses suffered by investors in Trump-linked crypto ventures such as the $TRUMP token, whose collapse has intensified scrutiny of the president’s growing financial ties to the sector.