Bitcoin tops $64,000 after Trump endorses crypto, lifting MSTR, COIN, HOOD

President Donald Trump's renewed crypto endorsement pushed Bitcoin above $64,000 and drove gains in crypto-exposed equities on July 6.

Bitcoin rose 3.2% to $64,200 on July 6 after President Donald Trump called himself "a big crypto guy" and signaled openness to adding Bitcoin to the new Trump Accounts savings program, lifting crypto-exposed stocks MSTR, COIN and HOOD.

"I've become a big crypto guy only for one reason — if we don't have it, China's going to have it," Trump told reporters during an Oval Office ceremony marking the launch of Trump Accounts, according to a transcript of the event. He was joined by Treasury Secretary Scott Bessent, Securities and Exchange Commission Chairman Paul Atkins, and technology executive Michael Dell.

The total crypto market added 1.38% to $2.2 trillion in 24 hours, with Ethereum trading above $1,800 and Dogecoin near $0.08. Strategy (MSTR) closed at $100.77 after bouncing from an intra-day low near $95, while selling 3,588 Bitcoin worth about $216 million. Coinbase (COIN) gained 2.05% to $168.87, recovering from a dip to the $160 support zone. Robinhood (HOOD) rose 4.28% to $117.55.

The endorsement marks the latest in a series of pro-crypto moves from the Trump administration, which established a Strategic Bitcoin Reserve in March 2025 and signed the GENIUS Act, the first major federal crypto law, in July 2025. Investors are now watching whether the administration will pursue capital gains tax relief for Bitcoin transactions — a proposal Trump floated in a recent CNBC interview — which could further accelerate institutional flows into digital assets.

Trump Accounts, created under the One Big Beautiful Bill Act, launched July 4 with $1,000 seed deposits for more than 500,000 children. When asked whether Bitcoin could be added to the accounts, Trump said "something could happen," without committing to a timeline. The program allows families to contribute up to $5,000 a year, with funds locked until age 18.

For MSTR, holding above $100 is critical to maintain momentum, with a break above $102 targeting $105. Below $100, support sits at $97.50 and $95. COIN faces resistance at $170; a clear break above that level could open a path to $172.50 and $175 this week, while failure to hold $167.50 may expose $165.48 and $162.50. HOOD's next resistance is at $120, with support at $112.73 and $109.82.

Trump's pro-crypto stance has reshaped the regulatory landscape. His administration eased Biden-era enforcement at the Justice Department and SEC, rolled back restrictions on banks' crypto activities, and pushed for a broader market-structure bill — the CLARITY Act — that remains in Congress. The endorsement also carries geopolitical weight: Trump framed digital assets as a strategic race with China, saying the U.S. must lead or risk losing the sector to Beijing.

This article is for informational purposes only and does not constitute investment advice.