Bitcoin Rises Above $64,000 as Trump's Pro-Crypto Remarks Offset MicroStrategy Sale

Bitcoin's price reversed earlier losses to climb above $64,000 on Monday, as the market weighed bullish comments from President Donald Trump against selling pressure from one of the cryptocurrency's largest corporate investors. The leading digital asset was last trading up approximately 1.7% at $64,183.5, according to market data.

Trump Comments Boost Sentiment

Market sentiment turned positive after President Trump expressed strong support for digital assets during an event at the Oval Office. When asked by reporters if Bitcoin might be included in a new government-sponsored investment vehicle for children, the President stated, "I’ve become a big crypto guy."

Trump, who was joined by representatives from the New York Stock Exchange and Nasdaq, added that he was a "fan" of cryptocurrencies and "very much for" them. These remarks provided a significant tailwind for crypto prices, which had been under pressure earlier in the session.

MicroStrategy Sale Pressures Market

Earlier on Monday, sentiment was dampened by a regulatory filing from MicroStrategy, which revealed the sale of 3,588 bitcoin for total proceeds of $216 million. The company, a prominent corporate BTC holder, said the funds were used for preferred stock distributions and to replenish its cash reserves.

The sales occurred in two separate transactions last week:

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• 1,363 bitcoin were sold between June 29 and June 30 for $80.8 million, at an average price of $59,256.
• An additional 2,225 bitcoin were sold between July 1 and July 5 for $135.2 million, at an average price of $60,773.

Separately, MicroStrategy reported a loss of $8.32 billion on its digital asset holdings for the quarter ending June 30.

Market Context and Outlook

Monday's price action follows a roughly 5% gain for Bitcoin last week, which was spurred by a softer-than-expected U.S. jobs report. That data eased investor concerns about aggressive Federal Reserve rate hikes, which tend to negatively impact speculative assets like cryptocurrencies. Investors will be watching for further monetary policy cues from the minutes of the Fed's June meeting, scheduled for release on Wednesday.

Flows from spot Bitcoin ETFs have also been a key indicator. While these funds saw eight consecutive weeks of outflows, last week marked the first net inflow since mid-June, suggesting that selling pressure from institutional investors may be starting to abate.