Bitcoin Surpasses $64,000 as Trump's Endorsement Offsets MicroStrategy Sale

Bitcoin (BTC) climbed above $64,000 on Monday, with bullish comments from U.S. President Donald Trump helping the digital asset shake off earlier pressure from a significant sale by corporate holder MicroStrategy.

As of late Monday, the world's largest cryptocurrency was trading at $64,183.5, up approximately 1.7%, according to market data. The price action reflects a tug-of-war between influential political rhetoric and the market impact of large-scale corporate transactions.

Trump's Pro-Crypto Stance Lifts Market

Market sentiment improved after President Trump expressed a positive view on cryptocurrencies during an event at the Oval Office. When asked by reporters if Bitcoin might be included in a new government-sponsored investment initiative, the President said, "I’ve become a big crypto guy."

Trump, who has previously voiced skepticism about the asset class, added that he was a "fan" and "very much for" it, citing concerns about China's role in the space as a reason for his evolving stance. Such comments from a sitting U.S. president can influence investor perception and provide a tailwind for digital assets facing regulatory scrutiny.

MicroStrategy Sale and Quarterly Loss Add Headwinds

Earlier in the session, the market had absorbed news from MicroStrategy, a prominent corporate Bitcoin holder. In a regulatory filing, the company disclosed it sold a total of 3,588 bitcoin for $216 million in cash proceeds last week.

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The sales occurred in two separate tranches:

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

The company, founded by Michael Saylor, stated the proceeds were used for preferred stock distributions and to replenish its cash reserves. The filing also revealed that MicroStrategy recorded a substantial loss of $8.32 billion on its digital asset holdings for the quarter ended June 30.

Broader Market Context

Bitcoin's recent strength follows a nearly 5% gain last week, which was partially fueled by a softer-than-expected U.S. jobs report. This data eased investor fears of aggressive Federal Reserve rate hikes, an environment that typically weighs on speculative assets like cryptocurrencies.

Investor flows also show a complex picture. While spot Bitcoin ETFs recently experienced eight consecutive weeks of outflows, last week marked the first net inflow since mid-June, hinting that selling pressure may be easing. Most other major cryptocurrencies tracked Bitcoin's gains Monday, with Ethereum (ETH) rising 1.5% to $1,812.81.