US President Donald Trump made noteworthy statements regarding the cryptocurrency markets. In his speech, Trump expressed his positive view of cryptocurrencies, saying, “I’m a big fan of crypto.”
Trump was asked whether the accounts known as “Trump Accounts” would contain Bitcoin. Without giving a clear commitment, Trump responded, “Something might happen.” Trump also alluded to Dell in his speech, saying, “Go and buy a Dell.”
Trump also commented on Dell’s donation to Trump Accounts. Regarding the donation, he said, “We’re going to get that money back to them somehow.” Trump also thanked Micron and mentioned that major financial institutions such as Blackstone, BlackRock, and Goldman Sachs were also present at the event.
In his speech, Trump also commented on the markets, saying, “I’m doing all of that myself.” Targeting investors who took short positions in the market, Trump said, “A few people took short positions in the market. Poor things, they’re in big trouble, they’re being wiped out.”
Trump’s pro-crypto statements coincided with a period of renewed activity in the Bitcoin market. US spot Bitcoin ETFs recorded net inflows of $223.5 million on July 2nd. This was the first net inflow since June 12th.
Bitcoin briefly approached $64,000 over the holiday weekend but later fell back below $62,000. Analysts noted that Strategy’s Bitcoin sales put downward pressure on the price, while the market reaction was more limited compared to previous periods.
