Bitcoin clawed back losses after President Trump publicly acknowledged his support for cryptocurrency, describing himself as “a big crypto guy” during an Oval Office press event. His remarks sparked a shift in market sentiment, lifting Bitcoin after it had dipped earlier due to significant corporate selling.
Prior to Trump’s comments, Bitcoin prices fell close to 2%, dropping toward $60,000 following disclosures that Strategy, the largest corporate Bitcoin holder, sold $216 million worth of the digital asset. This move marked a departure from Strategy co-founder Michael Saylor’s long-standing advice to “never sell your Bitcoin.” Despite these sales, Bitcoin later increased by nearly half a percent, reaching approximately $63,822, though it remains well below its previous peak exceeding $126,000.
When asked about the possibility of incorporating Bitcoin into Trump Accounts—a tax-advantaged 503A savings plan launched over the recent holiday—Trump expressed cautious interest but did not commit. The accounts, intended to help U.S. children born between 2025 and 2028 build long-term savings, currently invest in broad-market exchange-traded funds. Trump framed his crypto enthusiasm in geopolitical terms, highlighting the risk of ceding digital dominance to China without embracing the technology domestically.
Trump also criticized the prior administration’s stringent regulatory stance on the crypto industry, referencing how investigations into major trading platforms like Robinhood and Coinbase were dropped shortly after his return to the presidency. He emphasized crypto’s wide appeal and expressed strong support for the sector, which contrasted with regulatory uncertainty that previously dampened investor confidence.
The president’s sizable cryptocurrency earnings—exceeding $1 billion as disclosed in his 2025 financial statements—have drawn public scrutiny. A significant portion came from his personalized meme coins, while investors in his branded $Trump coin collectively lost billions, as reported by major news outlets. Trump maintained that his financial success was due to substantial capital reserves, positioning himself as a beneficiary of the crypto market despite its volatility.
His recent pro-crypto stance arrived amid turbulent trading weeks, during which Bitcoin experienced downward pressure following Strategy’s sale of considerable Bitcoin reserves earlier in the year. Trump's remarks offered relief to investors optimistic about the future of cryptocurrency within a policy environment more favorable to digital assets.