Bitcoin saw a surge on Monday after President Trump dubbed himself a “crypto mogul” and gave a somewhat positive, yet vague, reply when asked if digital currencies might be part of his newly established Trump account.
This came after the cryptocurrency dipped nearly 2% toward $60,000, following reports that the largest corporate owner of Bitcoin, Strategy Inc., sold off $216 million worth last week. This move contradicted co-founder Michael Saylor’s earlier claim to “never sell Bitcoin.”
Since then, Bitcoin has gained 0.4%, reaching $63,822, partially recouping its losses as Trump highlighted his administration’s support for cryptocurrencies. However, it’s still significantly below last year’s peak of over $126,000.
During a press briefing at the Oval Office, Trump was asked about the potential for Bitcoin to be included in his account. He answered, “I became a crypto tycoon.”
He elaborated that his stance was influenced by concerns over China’s intentions regarding cryptocurrency, noting that “If we don’t have it, China will have it.” He claimed that the U.S. had gained the upper hand in the crypto space.
The newly launched tax-advantaged 503A account, labeled the Trump Account, was opened over the holiday weekend and initially funded with $1,000 for U.S. children born between January 1, 2025, and December 31, 2028. The objective is to help children in the U.S. establish savings through broad-based exchange-traded funds.
In his comments on cryptocurrencies, Trump criticized the Biden administration’s strict regulations in the crypto sector.
He stated, “Every time I see a cryptocurrency official who has closed an investigation, I think, ‘I’m lucky to be president!’”
The Securities and Exchange Commission terminated its investigation into Robinhood and Coinbase’s trading practices in February 2025, shortly after Trump resumed his presidency.
“There’s a huge audience for cryptocurrencies. So, yeah, I’m all for cryptocurrencies,” he added, but he did not commit to making them part of the Trump account.
Recently, he faced backlash after disclosing $1 billion in crypto gains in his 2025 annual financial report.
According to reports, he earned over $600 million from a personalized meme coin, while investors in his Dollar Trump coin collectively lost $3.81 billion.
“We all benefit,” Trump remarked about his profits, acknowledging that he has substantial financial resources.
His remarks helped lift the spirits of crypto investors after a particularly rough trading period.
Bitcoin has struggled since Strategy sold about $2.5 million worth of Bitcoin in May, marking a significant departure from its established trading philosophy.
Monday’s disclosure indicated that Strategy’s $216 million Bitcoin sale last week marked a significant shift away from their “never sell” mantra as the cryptocurrency market faces challenges.
This was the company’s largest Bitcoin sale since it began acquiring large quantities in 2020, and only their third sale overall, as they adapt to a changing investment strategy.
Lacey Chan, a research analyst at BitGet Wallet, mentioned that the sale wasn’t entirely unexpected, as Strategy had hinted at possible sales if necessary.
“More importantly, each sale weakens the perception of the ‘never sell’ Bitcoin financial model and highlights pressures on the capital structure,” she noted.
Under Saylor, who left his CEO position in 2022, Strategy’s status as the largest corporate Bitcoin holder had encouraged bullish sentiment among investors aiming to ride the wave of Bitcoin’s potential rise.
However, market volatility has increased, with Strategy’s stock plummeting 75% over the past year.
Bitcoin itself has dropped 40% within the past year, and analysts caution that further declines may follow as investors prioritize liquidity, especially with upcoming IPOs from AI companies like OpenAI and Anthropic.
