Trump's Stock Accounts Buy Back In at Low Point, Gain 83% in MicroStrategy
President Donald Trump's stock accounts made several trades involving MicroStrategy (formerly Strategy) in June and early July. The accounts sold shares worth $16,002 to $65,000 on June 23 and 24, and another sale was made on July 8 for $1,001 to $15,000. Two days after the initial sales, the stock hit a low point of $81.81 during trading.
The buying began in mid-July, with accounts purchasing $1,001 to $15,000 of MicroStrategy shares on July 24 and $50,001 to $100,000 on July 27. This larger purchase is up about 70% from the close price at the time. The stock has since climbed around 83%, according to Quiver Quantitative, which tracks politicians' trades.
MicroStrategy is the largest company holder of Bitcoin (BTC), and its shares tend to rise and fall with the pioneer cryptocurrency's value. In July, MicroStrategy stopped buying BTC and sold new shares to raise cash, resulting in a low trading volume of $1.7 billion per day. However, the stock has since recovered, and MicroStrategy resumed buying.
The Trump Organization claims that outside firms manage the accounts, stating that neither President Trump nor his family is involved in selecting or directing investments. Despite this, Sen. Elizabeth Warren and Rep. Robert Garcia questioned the timing of Trump's trades in an August letter. The filing does not show whether the accounts still hold the shares.