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

Bitcoin (BTC) climbed above $64,000 on Monday, recovering from earlier losses as bullish comments from President Donald Trump helped the market absorb news of a significant sale by major corporate holder MicroStrategy. The leading cryptocurrency was last trading up 1.7% at $64,183.5, according to Investing.com data.

Dueling Market Catalysts

Sentiment for the digital asset improved after President Trump expressed a positive view on cryptocurrencies during an event at the Oval Office. When asked by reporters about the asset class, Trump stated, "I’ve become a big crypto guy," adding that he was a "fan" and "very much for" it.

The presidential endorsement offset earlier pressure from a regulatory filing by MicroStrategy, which revealed the company sold a substantial amount of its bitcoin holdings last week. The firm, a prominent corporate BTC investor, disclosed the following transactions:

• Total sold: 3,588 bitcoin
• Total proceeds: $216 million
• Transactions: The sale occurred in two parts, with an average price of $59,256 for the first 1,363 BTC and $60,773 for the remaining 2,225 BTC.

The filing noted the proceeds were used for preferred stock distributions and to replenish cash reserves. MicroStrategy also reported a staggering $8.32 billion loss on its digital assets for the quarter ending June 30.

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Broader Market Context

The price action occurs within a market sensitive to U.S. monetary policy. Bitcoin gained roughly 5% last week after a softer-than-expected jobs report eased fears of aggressive Federal Reserve rate hikes, which typically weigh on speculative assets. Investors are now looking to Wednesday's release of the Fed's June meeting minutes for further policy clues.

Investor flows also present a mixed picture. While spot bitcoin ETFs experienced eight consecutive weeks of outflows, last week marked the first net inflow since mid-June, potentially signaling that selling pressure is abating.

Altcoin Performance

Most other major cryptocurrencies, or altcoins, tracked Bitcoin’s positive momentum. Ethereum (ETH), the second-largest crypto by market capitalization, gained 1.5% to trade at $1,812.81, while XRP added 0.5%. However, some assets saw losses, with Cardano (ADA) shedding 2.5%.