Donald Trump confirmed in newly released ethics filings that he purchased shares of Strategy (MSTR.US) in July, prompting the White House to clarify that the investment portfolio is independently operated by a third-party financial institution, aiming to ease concerns about any direct interference from the president.
The disclosure, published Tuesday by the U.S. Office of Government Ethics, shows Trump bought Strategy stock valued between $50,001 and $100,000 on July 27, following purchases of the same asset worth between $1,001 and $15,000 in the preceding three days. Data compiled by Woofun AI indicates that Strategy, holding the largest corporate Bitcoin treasury globally with 846,000 coins, saw the July 27 transaction become the largest crypto-related purchase of the month, matching the same value range disclosed on February 12.
Trump also engaged in purchases of other unspecified stocks, as well as buying and selling shares of Bitcoin mining firms and additional assets, according to the filings. Since the disclosures only report ranges rather than cumulative holdings, the exact number of remaining Strategy shares in his account remains unknown, but the multiple small transactions listed suggest a high frequency of trading activity.
From a broader asset allocation perspective, this crypto addition represented a minimal portion of Trump's July investment activity. The documents reveal that on July 20, he executed significant reductions in traditional tech stocks, selling shares worth between $5 million and $25 million in unspecified technology firms and Amazon (AMZN.US), alongside multiple other transactions ranging from $1 million to $5 million each.
Notably, Strategy's share price has shown strong momentum recently, surging nearly 30% over the past five trading sessions and approximately 37% over the past month. This sharp rebalancing between traditional giants and crypto leaders highlights a significant divergence in risk appetite within the portfolio, despite the White House insisting that decision-making authority lies outside Trump and his family.
On the macro policy front, although Congress continues to debate market structure legislation, the Trump administration is advancing cryptocurrency industry regulation through executive and regulatory channels. While the U.S. Senate failed to advance the Clear Act on September 15, regulators acted swiftly: the Securities and Exchange Commission approved limited on-chain trading of U.S. stocks two days after the veto vote, and the Commodity Futures Trading Commission relaxed registration requirements for software providers entering regulated derivatives markets.
On September 17, the CFTC submitted a proposal titled "Crypto Asset Trading Regulation and Crypto Asset Market Regulation" to the White House, which remains in its preliminary stages. Meanwhile, the House Financial Services Committee passed a bill with a 28-21 vote to legalize the Strategic Bitcoin Reserve program, mandating that bitcoins deposited in the reserve be held for at least 20 years. The U.S. government currently estimates it holds 324,527 bitcoins, and this legislative move marks a pivotal step toward integrating Bitcoin into the national strategic reserve framework.