Bitcoin's movement on Mondays was repeated, with a clear setback for the early drive, which then turned into an increase. The market was first suppressed by the news of Strategy re-selling bitcoin, and then picked up after US President Trump publicly supported encrypted assets.
At the time of reporting, the Bitcoin report was US$ 63,624.44, an increase of about 1.5 per cent in the day. Earlier, this encrypted asset had dropped by over 2 per cent and approached the $60,000 threshold.
The price of Trump's statement rose.
In response to a question about whether the “Trump account” would be included in Bitcoin at a press conference on Monday, Trump stated that he had become “a firm supporter of encryption”. This statement subsequently boosted market sentiment.
The so-called "Trump Account" is the recently launched 503A Tax Credit Account for long-term savings for children. Under the current arrangements, such accounts are mainly used to configure the extensive ETF in the United States stock market.
Strategy, discloses two recent sales.
Prior to this, the market focused more on the latest regulatory documents of Strategy. The document showed that the company, known for its Bitcoin Treasury strategy, had recently sold bitcoin in several instalments, totalling approximately $216 million.
Of these, from 29 to 30 June, Strategy sold approximately $80.8 million bitcoin at an average price of $59,256 per item. From 1 to 5 July, the company sold about $135.5 million bitcoin in another group of transactions.
This is also Strategy's second reduction of bitcoin this year, further deviating from its long-standing emphasis on not selling bitcoin. As early as May, the company had introduced a new business policy that allowed part of the warehouse to be sold for capital allocation purposes; on 1 June, it had disclosed the sale of more than $2 million in bitcoin, the first since 2022.
The holdroom is still over 840,000.
According to the latest disclosure, Strategy currently holds 843,775 bitcoin, valued at approximately $52.1 billion at the time of reporting. The average storage cost was USD 75,476 per unit.
According to Barclays analysts, Strategy's investment narratives in the past were based to a large extent on the “never sell” public promise, so that even the relatively limited scale of sales could be a blow to market sentiment. Since the company’s restructuring policy, Bitcoin has remained largely volatile between US$ 60,000 and US$ 70,000, falling to about US$ 59,000 on 24 June, a low since October 2024.
According to Cantor, the other agency, Strategy sells bitcoin more in order to support its priority equity performance than to make negative judgements about the future of bitcoin. The agency noted that the company needed to maintain a balance between preferred shareholders, ordinary shareholders and Bitcoin investors, but that protecting one of them might reduce the space for the other two.