{"id":4828,"date":"2026-07-06T17:35:13","date_gmt":"2026-07-06T17:35:13","guid":{"rendered":"https:\/\/www.finznest.com\/blog\/bitcoin-rebounds-after-trump-says-hes-become-a-big-crypto-guy\/"},"modified":"2026-07-06T17:35:13","modified_gmt":"2026-07-06T17:35:13","slug":"bitcoin-rebounds-after-trump-says-hes-become-a-big-crypto-guy","status":"publish","type":"post","link":"https:\/\/www.finznest.com\/blog\/bitcoin-rebounds-after-trump-says-hes-become-a-big-crypto-guy\/","title":{"rendered":"Bitcoin rebounds after Trump says he&#8217;s become &#8216;a big crypto guy&#8217;"},"content":{"rendered":"<div id=\"RegularArticle-ArticleBody-5\" data-module=\"ArticleBody\" data-test=\"articleBody-2\" data-analytics=\"RegularArticle-articleBody-5-2\"><span class=\"HighlightShare-hidden\" style=\"top:0;left:0\"\/><\/p>\n<div class=\"InlineImage-imageEmbed\" id=\"ArticleBody-InlineImage-108314646\" data-test=\"InlineImage\">\n<div class=\"InlineImage-wrapper\">\n<div>\n<p>Michael Saylor, co-founder and executive chairman of Strategy Inc., speaks during the Bitcoin 2026 conference in Las Vegas, Nevada, US, on Tuesday, April 28, 2026. <\/p>\n<p>Ian Maule | Bloomberg | Getty Images<\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p><span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-1\">Bitcoin<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"\/><\/button><\/span><\/span><\/span> turned positive Monday after President Donald Trump voiced his support for cryptocurrency. <\/p>\n<p>Earlier in the session, bitcoin dove toward $60,000 after <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-3\">Strategy<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"\/><\/button><\/span><\/span><\/span>, a longtime corporate buyer of the token, sold some of its holdings for the second time this year, dealing a blow to the asset once dubbed &#8220;digital gold.&#8221; The flagship cryptocurrency was last trading at $63,853.85, up 1.8% on the day. Earlier, it was down more than 2%. <\/p>\n<p>&#8220;Well &#8230; I&#8217;ve become a big crypto guy,&#8221; Trump said in a news conference on Monday, responding to a question about whether bitcoin might be added to recently launched Trump Accounts. <\/p>\n<p>The tax-advantaged 503A accounts went live over the holiday weekend, and they are aimed at allowing children to build long-term savings over their lifetimes. The accounts are expected to drive inflows into U.S. equities, as people can select to invest in a range of broad-market exchange traded funds. <\/p>\n<p>Trump&#8217;s comments were a welcome boost for crypto investors on Monday. A stunning strategy shift by the bitcoin evangelist Michael Saylor has weighed on market sentiment in recent weeks, according to Barclays.\u00a0<\/p>\n<\/div>\n<h2 class=\"ArticleBody-subtitle\">Strategy sells more bitcoin<\/h2>\n<div class=\"group\">\n<p>Strategy disclosed Monday in a regulatory filing that it made multiple sales of bitcoin worth a combined $216 million, marking a further reversal of the Saylor-led company&#8217;s earlier promises to never sell its bitcoin. <\/p>\n<p>&#8220;Strategy&#8217;s entire investment thesis was built on a public promise never to sell,&#8221; Barclays analyst Ajay Rajadhyaksha said Monday in a note to clients. &#8220;When they sold \u2014 even a minuscule amount \u2014 and then announced a new policy framework allowing further sales for &#8216;capital allocation purposes,&#8217; it was a significant hit to sentiment.&#8221;<\/p>\n<p>Strategy sold roughly $80.8 million worth of bitcoin at an average price of $59,256 per token between June 29 and 30, according to its regulatory filing. Then, an additional $135.5 million of bitcoin was sold in a separate series of transactions from July 1 to 5.\u00a0<\/p>\n<p>That brings its holdings to 843,775 bitcoin worth around $52.1 billion as of writing time. The company&#8217;s average cost-per-token now sits at $75,476.\u00a0<\/p>\n<p>Strategy first announced its shift to a corporate policy that would enable it to sell some of its bitcoin in May. It reported the sale of more than $2 million in bitcoin on June 1, marking its first sale since 2022. <\/p>\n<p>Since then, bitcoin has largely traded in the range of $60,000 to $70,000. On June 24, the asset briefly dipped to roughly $59,000, or its lowest level since Oct. 10, 2024.<\/p>\n<\/div>\n<h2 class=\"ArticleBody-subtitle\">&#8216;Center of gravity&#8217;<\/h2>\n<div class=\"group\">\n<p>Shares of Strategy rose 1% on Monday, while its preferred stock, STRC, gained almost 3%. Even with the bump, the preferred stock is trading below its $100 par level.  <\/p>\n<p>Cantor analyst Ramsey El-Assal sees Strategy&#8217;s sale of bitcoin as effort to shore up its perferred stock, which he called the company&#8217;s &#8220;center of gravity,&#8221; not a commentary on the cryptocurrency. <\/p>\n<p>&#8220;We fully expect the company to do whatever it takes to lift STRC to par, and we believe the Street should expect frequent, periodic actions,&#8221; El-Assal said in a note to clients. <\/p>\n<p>The company has to balance three constituencies, preferred stockholders, common stockholders and bitcoin investors, according to El-Assal. However, protecting one of these three groups may hurt the other, he said. <\/p>\n<p>&#8220;The company rightly understands something that bears miss: where STRC goes, MSTR common shares follow,&#8221; the analyst said. <\/p>\n<\/div>\n<div class=\"ArticleBody-googlePreferredSourceContainer\" data-module=\"GooglePreferredSource\" data-id=\"RegularArticle-GooglePreferredSource-5\">Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Michael Saylor, co-founder and executive chairman of Strategy Inc., speaks during the Bitcoin 2026 conference in Las Vegas, Nevada, US, on Tuesday, April 28, 2026. Ian Maule | Bloomberg | Getty Images Bitcoin turned positive Monday after President Donald Trump voiced his support for cryptocurrency. Earlier in the session, bitcoin dove toward $60,000 after Strategy, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":4829,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[365,256,230,3583,2000,536,287],"class_list":["post-4828","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","tag-big","tag-bitcoin","tag-crypto","tag-guy","tag-hes","tag-rebounds","tag-trump"],"_links":{"self":[{"href":"https:\/\/www.finznest.com\/blog\/wp-json\/wp\/v2\/posts\/4828","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.finznest.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.finznest.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.finznest.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.finznest.com\/blog\/wp-json\/wp\/v2\/comments?post=4828"}],"version-history":[{"count":0,"href":"https:\/\/www.finznest.com\/blog\/wp-json\/wp\/v2\/posts\/4828\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.finznest.com\/blog\/wp-json\/wp\/v2\/media\/4829"}],"wp:attachment":[{"href":"https:\/\/www.finznest.com\/blog\/wp-json\/wp\/v2\/media?parent=4828"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.finznest.com\/blog\/wp-json\/wp\/v2\/categories?post=4828"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.finznest.com\/blog\/wp-json\/wp\/v2\/tags?post=4828"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}