Michael Saylor, co-founder and executive chairman of Strategy Inc., speaks at the Bitcoin 2026 conference in Las Vegas, Nevada, USA, on Tuesday, April 28, 2026.
Ian Moll | Bloomberg | Getty Images
Bitcoin It turned positive on Monday after President Donald Trump voiced support for cryptocurrencies.
Early in the session, Bitcoin then plummeted towards $60,000. strategyFor the second time this year, companies that have bought the token have sold some of their holdings, dealing a blow to the asset once known as “digital gold.” The flagship cryptocurrency last traded at $63,853.85, up 1.8% on the day. It had previously fallen more than 2%.
“Well…I’ve become a crypto tycoon,” President Trump said at a Monday press conference in response to a question about whether Bitcoin might be added to the recently opened Trump account.
The tax-advantaged 503A account goes live during the holiday season and is intended to help children save for the long term throughout their lives. The account is expected to drive inflows into U.S. stocks, as people can choose to invest in exchange-traded funds in a broad range of markets.
Trump’s comments on Monday were a welcome boost for crypto investors. A surprising strategic shift by Bitcoin evangelist Michael Saylor has weighed on market sentiment in recent weeks, according to Barclays.
Strategies to sell more Bitcoin
Strategy disclosed in a regulatory filing on Monday that it had sold Bitcoin worth a total of $216 million on multiple occasions, further breaking the Saylor-led company’s previous promise never to sell Bitcoin.
“The strategy’s entire investment thesis is built on a commitment to never sell,” Barclays analyst Ajay Rajadhyaksha said in a note to clients on Monday. “We dealt a significant blow to sentiment when we announced a new policy framework to sell even small amounts and then allow further sales for ‘capital allocation purposes.’”
According to regulatory filings, Strategy sold approximately $80.8 million worth of Bitcoin between June 29 and June 30 at an average price of $59,256 per token. An additional $135.5 million in Bitcoin was then sold in a separate series of transactions from July 1st to July 5th.
This brings the company’s holdings to 843,775 Bitcoins worth approximately $52.1 billion at the time of writing. The company’s average cost per token currently stands at $75,476.
Strategy first announced in May that it was moving to a corporate policy that would allow it to sell some of its Bitcoin. On June 1st, it reported that more than $2 million worth of Bitcoin had been sold, the first such sale since 2022.
Since then, Bitcoin has mostly traded in the $60,000 to $70,000 range. On June 24, assets at one point fell to about $59,000, the lowest level since October 10, 2024.
“center of gravity”
Strategic shares rose 1% on Monday, and the company’s preferred stock, STRC, rose nearly 3%. Even at higher prices, preferred stock still trades below its $100 par value.
Ramsey El Assal, an analyst at Kantar, sees Strategy’s Bitcoin sale as an effort to strengthen the company’s preferred stock, known as its “center of gravity,” and not as a commentary on cryptocurrencies.
“We fully expect the company to take all steps to bring STRC to parity levels and believe that the city should expect frequent and regular action,” El Asal said in a note to clients.
According to El Asal, the company needs to balance three constituencies: preferred shareholders, common shareholders, and Bitcoin investors. But protecting one of those three groups could hurt the other, he said.
“The company correctly understands what the bears are missing: where STRC goes, MSTR common stock will follow,” the analyst said.
