Bitcoin turned positive Monday after President Donald Trump voiced his support for cryptocurrency, calling himself 'a big crypto guy' during a news conference. The flagship cryptocurrency was last trading at $63,853.85, up 1.8% on the day, after earlier falling more than 2% toward $60,000. The decline came as Strategy, the longtime corporate bitcoin buyer led by Michael Saylor, disclosed it sold a combined $216 million worth of bitcoin in multiple transactions between June 29 and July 5, marking a further reversal of its earlier promise never to sell. Barclays analyst Ajay Rajadhyaksha said the sales, even in minuscule amounts, dealt a significant hit to market sentiment. Strategy now holds 843,775 bitcoin worth around $52.1 billion, with an average cost per token of $75,476.
MicroStrategy IncorporatedStrategy sold $216M bitcoin, reversing no-sell promise, hurting sentiment; but Trump's crypto support may offset.
BitcoinTrump voiced support for crypto, calling himself 'a big crypto guy', boosting Bitcoin price.