Bitcoin rebounded Monday after President Donald Trump publicly embraced cryptocurrency during the rollout of the new Trump Accounts savings program, helping reverse an earlier selloff and lifting prices back above $63,000.
Speaking at a White House event, Trump said he has become “a big crypto guy,” arguing that the United States must remain competitive with China in the rapidly growing digital asset industry.
“If we don’t have it, China is going to have it,” Trump said, adding that he believes cryptocurrency “has a lot of life” ahead.
His comments helped improve investor sentiment after Bitcoin had fallen more than 2% earlier in the day.
The cryptocurrency’s recovery came despite fresh selling pressure from Strategy (formerly MicroStrategy), one of the world’s largest corporate holders of Bitcoin.
In a regulatory filing Monday, Strategy disclosed it sold approximately $216 million worth of Bitcoin between June 29 and July 5, marking its second round of Bitcoin sales this year. The company still owns approximately 843,775 Bitcoin, making it by far the largest publicly traded corporate holder of the cryptocurrency.
The sales surprised investors because Strategy and Executive Chairman Michael Saylor had long promoted a strategy of accumulating Bitcoin rather than selling it.
Some Wall Street analysts viewed the move as a negative signal for crypto markets, while others said the sales appear to be part of the company’s broader capital management strategy rather than a loss of confidence in Bitcoin.
Meanwhile, Trump’s crypto-friendly remarks added another layer to an administration that has increasingly embraced digital assets.
The comments came during the launch of Trump Accounts, a new tax-advantaged savings program established under the One Big Beautiful Bill Act. The program provides eligible children born between 2025 and 2028 with a $1,000 federal seed investment, while families can contribute additional money annually.
Although asked whether Bitcoin could eventually become an investment option inside the accounts, Trump stopped short of making any commitment.
Under current law, the accounts invest in a low-cost S&P 500 index fund, and adding cryptocurrency would likely require congressional approval rather than an administrative change.
Trump’s position on digital assets has shifted dramatically over the past several years. In 2019, he criticized cryptocurrencies, saying they were “not money.” Since returning to office, however, he has positioned the United States as a supporter of digital asset innovation and has repeatedly argued that America should lead the industry rather than allow China to dominate it.
Bitcoin remains one of the world’s most volatile financial assets, frequently moving thousands of dollars in a single trading session as investors react to economic data, government policy, institutional buying and selling, and regulatory developments.
For investors, Monday’s trading highlighted how quickly sentiment can change. A corporate Bitcoin sale pushed prices lower early in the session, while a few supportive comments from the president helped reverse much of the decline only hours later.
As cryptocurrencies continue moving further into the financial mainstream, investors can expect government policy, institutional activity and political developments to remain major drivers of Bitcoin prices.
JBizNews Desk | Washington, D.C.
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