Trump Buys Strategy Stock and Sells Bitcoin Miners
Federal filings reveal Trump's accounts loaded up on a Bitcoin treasury company while dumping two Bitcoin miners just days apart, and the diverging bets raise a pointed question about which side of the crypto trade actually wins.
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A recent federal filing shows that President Donald Trump’s accounts purchased up to $100,000 of Strategy (NASDAQ:MSTR | MSTR Price Prediction) stock on July 27, 2026, before selling shares of Bitcoin miners MARA Holdings (NASDAQ:MARA) and CleanSpark (NASDAQ:CLSK) just two days later. The Office of Government Ethics released this information on September 22, highlighting a total of 1,156 transactions made in July.
This filing sends mixed signals about Bitcoin (CRYPTO:BTC): it suggests support for a company that holds Bitcoin while selling off two companies that mine it. So, what does Trump see in Strategy stock that the miners may be missing?
The Filing Shows Strategy Buys in Late July and Miner Sales on July 29
According to the filing, which is a standard report federal officials must submit for trades exceeding $1,000, Trump’s accounts made three trades involving Strategy stock. They sold shares worth between $1,001 and $15,000 on July 8, bought shares in the same value range on July 24, and made the largest purchase of the three—between $50,001 and $100,000—on July 27.
A few days later, on July 29, the accounts sold shares of MARA and CleanSpark, each for between $15,001 and $50,000. On July 24, they also bought $1,001 to $15,000 of Coinbase stock. Strategy, known as the largest corporate holder of Bitcoin, acts as a treasury company that raises funds to buy and hold Bitcoin.
Looking back, the timing of these trades seems clever; since the July 24 purchase, Strategy stock has risen about 80%. As of September 24, it was trading around $160, up 26.9% in just one week.
Strategy Holds Bitcoin While MARA and CleanSpark Have to Mine It
The strategy profits from Bitcoin by holding it, with a current holding of about 846,000 BTC valued at around $71 billion at $84,388 each. The company’s value fluctuates with Bitcoin’s price, and the debt and shares sold to buy more Bitcoin amplify those changes.
However, miners like MARA and CleanSpark face a different set of risks. They incur power and equipment costs to generate new coins. For instance, MARA reported that its electricity costs for Bitcoin production rose to $38,690 per coin, up from $33,735, which tightens profit margins, even if Bitcoin prices remain stable. Both mining firms are also exploring opportunities in AI data centers, generating more consistent revenue from AI companies renting their facilities.
The Trades Were Small and Came From an Index-Tracking Model
The White House says third-party managers run the accounts through model portfolios that track stock indexes, with no input from Trump or his family.
The size of these trades was relatively small. The same filing details larger transactions, such as sales of Microsoft and Amazon stocks on July 20, valued between $5 million and $25 million each. In comparison, the largest crypto trade, worth up to $100,000, was at most 2% of those larger sales. Additionally, no trades were made in spot Bitcoin ETFs during July.
So What Does Trump See in Strategy Stock That Miners Don’t?
Most likely, the trades reflect index-based adjustments rather than an intentional investment strategy around Bitcoin. The managers of the modeled portfolio decided to buy a stock that holds Bitcoin while selling two that mine it, and these trades represent a small fraction of a month filled with significant sales of major stocks like Microsoft and Amazon.
However, the trades align with economic trends: Strategy stock rises with Bitcoin, while miners increasingly face higher costs.
Ultimately, the upcoming filings will provide more insights into these trades. If future reports show continued purchases in treasury stocks while moving away from miners, it could suggest a strategic shift. Conversely, if trades shift as miners begin to benefit from AI contracts, we may conclude the July trades were purely routine. Nevertheless, Strategy stock has surged about 80% since July 24, while Bitcoin has risen about 34% from its July closing price of $62,826.
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Sam Daodu is a crypto analyst who's spent nearly a decade making blockchain understandable—no easy task when most whitepapers read like fever dreams. He writes for 24/7 Wall St., covering Bitcoin, altcoins, and crypto market analysis for investors. Before crypto, he was a tech writer (back when explaining "the cloud" was peak innovation). Since 2018, he's written for CoinTelegraph, Yahoo Finance, The Block, Cryptonews, Zypto, Rain, and more—basically anywhere people want crypto news without the headache. Sam runs MacLabs Marketing, a content agency for crypto brands tired of sounding like AI wrote their website. He also publishes free crypto education on his site for Web3 enthusiasts who think "gas fees" is a typo. When he's not writing or staring at charts, Sam's either: - Watching anime (currently convinced One Piece has better tokenomics than most altcoins) - At the gym sculpting himself into a Greek god - Listening to the music your mum warned you only bad boys listen to Connect: LinkedIn | Email | MacLabs Marketing
