Bitcoin rebounds after President Trump's support and strategy $216 million sale
Business
Bitcoin bounced back a bit on Monday after President Trump openly supported cryptocurrency, following a dip to nearly $60,000 when Strategy (the biggest corporate holder) sold $216 million worth of bitcoin.
This was a surprise move since they usually never sell.
Strategy sale dents Bitcoin treasury confidence
Trump's pro-cryptocurrency comments gave bitcoin a small boost to $63,822, but that's still way below last year's record high of more than $126,000.
Meanwhile, Strategy's big sale has investors worried about the stability of their approach and what it means for the rest of the cryptocurrency market.
Some analysts think these moves could shake confidence in using bitcoin as a company treasury asset.