Bitcoin rose slightly on Tuesday, stabilizing after a sharp rebound last week as continuous flows from exchange-traded funds, increased digital currency purchases by Michael Saylor's Strategy, and positive comments about U.S. cryptocurrency regulation boosted the markets.
Sentiment was also boosted after the White House announced that President Donald Trump is considering some concessions on his tariffs on cars to help mitigate their impact on the U.S. economy. This led to increased hopes for a larger easing of Trump’s broader tariff agenda.
Bitcoin rose by 0.1% to $94,335.3 by 08:36 Saudi time, after reaching $95,436.8 earlier in the session. The world's largest cryptocurrency was near its strongest level in two months, now focusing on surpassing the $100,000 barrier.
Strategy buys more Bitcoin worth $1.4 billion.
Strategy (NASDAQ:MSTR) (formerly known as MicroStrategy) revealed the purchase of 15,355 Bitcoins for a total of $1.42 billion. The company bought the coins between April 21 and April 27, according to what it stated in a filing on Monday.
This purchase raises Strategy's total Bitcoin holdings to 553,555 coins, reinforcing its position as the largest institutional holder of Bitcoin.
The company primarily financed its purchases of Bitcoin through stock and debt issuances, and it recorded huge gains in stocks in recent months as investors treated it as a way to gain exposure to Bitcoin.
Strategy's stocks have outperformed Bitcoin so far in 2025, rising by 23%, compared to an increase of about 1% in Bitcoin.
U.S. Commerce Secretary Lotnik points to more friendly regulation for cryptocurrencies.
U.S. Commerce Secretary Howard Lotnik said in a recent interview with Bitcoin Magazine that the Trump administration is working to introduce more friendly regulations for cryptocurrencies, and he also called for more cryptocurrency companies to invest in the United States.
Lotnik stated that Bitcoin miners will greatly benefit from the investment accelerator recently revealed by the Department of Commerce.
Lotnik also stated that he considers Bitcoin a commodity, and he will encourage government agencies to treat the cryptocurrency in the same way as gold.
Lotnik's comments raised hopes for friendlier cryptocurrency regulation under Trump’s leadership, after his plans for a national Bitcoin reserve failed to impress earlier this year.
Cryptocurrency prices today: Altcoins are quiet, and $TRUMP is retreating.
Broader cryptocurrency prices were mostly range-bound, with most positive news seeming to revolve around Bitcoin.
The second-largest cryptocurrency globally, Ethereum, fell by 0.1% to $1,793.96, showing little reaction to the project update from the Ethereum Foundation.
$TRUMP fell by 6% amid some profit-taking after a remarkable rise last week. Reports indicated that some major holders are transferring tokens to centralized exchanges, signaling potential sales.
XRP dropped slightly to $2.2720, while both Cardano and Solana fell about 2% each.
Dogecoin fell by 0.7%.