Bitcoin bounced back Monday after President Trump called himself “a big crypto guy” and gave a positive, if noncommittal, answer when asked about the prospect of digital assets becoming part of his newly-launched Trump Accounts.
Prior to those remarks, the cryptocurrency fell as much as 2% toward $60,000 after filings revealed Strategy, the largest corporate holder of Bitcoin, sold $216 million worth last week – abandoning co-founder Michael Saylor’s pledge to “never sell your Bitcoin.”
Bitcoin later rose 0.4% to $63,822, reversing those losses after Trump boasted about his crypto-friendly administration – though it’s still far below its record high of more than $126,000 last year.
Asked at an Oval Office press conference whether Bitcoin could become part of Trump Accounts, the president answered, “I’ve become a big crypto guy.”
He went on to explain there’s “only one reason” for that stance, saying, “If we don’t have it, China’s going to have it, and they would like to have it. But now they’re not even trying that hard, because we’ve taken over.”
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The tax-advantaged 503A accounts known as Trump Accounts launched over the holiday weekend, seeded with $1,000 for US children born between Jan. 1, 2025, and Dec. 31, 2028. They are an attempt to help American kids build savings over a lifetime by investing in broad-market exchange traded funds.
During his remarks on crypto, Trump jabbed at the Biden administration’s strict regulatory enforcement on the industry.
“Every time I see a crypto guy where they dropped an investigation I said, ‘You are lucky I’m president!’” Trump said.
The Securities and Exchange Commission abruptly dropped its investigations into Robinhood and Coinbase’s trading practices in February 2025, soon after Trump returned to the Oval Office.
“Crypto has a tremendous audience. So, yeah, I’m very much for crypto,” he said, stopping short of committing to make the asset part of Trump Accounts.
The president recently faced criticism over his annual financial disclosures for 2025, which revealed he made $1 billion in cryptocurrency income.
He earned more than $600 million from his personalized meme coins while investors in his $Trump coin lost $3.81 billion, according to the New York Times.
“We’re all profiting,” Trump said last week of his profits. “I’m profiting because I have a lot of money and a lot of cash.”
His remarks on Monday helped boost sentiment among crypto investors after weeks of brutal trading.
Bitcoin has been on the downturn since Strategy – a leading so-called “crypto treasury” company – sold about $2.5 million worth of Bitcoin in May, a sharp reversal from its yearslong trading philosophy.
Financial disclosures on Monday showed Strategy last week sold another $216 million of Bitcoin – a signal that it is truly abandoning its “never sell” pledge amid a slumping digital asset market.
It marked the company’s largest Bitcoin sale since it started building up its massive holdings in 2020, and only its third sale overall as it makes a hard pivot to a more flexible investment strategy – concerning investors who went all-in on crypto.
Lacie Zhang, research analyst at Bitget Wallet, said the sale didn’t come as a complete surprise since Strategy previously signaled that Bitcoin sales were a possibility if needed.
“What matters more is that each actual sale weakens the ‘never sell’ perception around the Bitcoin treasury model and brings capital structure pressure back into focus,” she told The Post.
Under Saylor, who stepped down as CEO in 2022, Strategy’s status as the largest corporate holder of Bitcoin encouraged crypto bulls to buy shares of the firm in hopes that Bitcoin would continue to rise and their winnings would be multiplied.
But instead, the volatile market has taken a turn for the worse – sending Strategy’s stock down 75% over the past year.
Bitcoin is down 40% over the past year, and analysts have warned that more downside could be in store as investors look to free up extra liquidity ahead of IPOs from artificial intelligence giants OpenAI and Anthropic.