Trump increased Strategy in July, and the White House says it is managed independently by a third party

According to Woofun AI, Donald Trump confirmed the purchase of Strategy (MSTR.US) shares in July in the newly disclosed ethics document, and the White House immediately clarified to (the original text appears to be missing, suspected to be the media or regulators) that the portfolio is operated independently by a third-party financial institution to dispel the market's doubts about its direct intervention.

According to the details of the deal, documents released by the US Government Ethics Office on Tuesday indicate that Trump bought $50,001 to $100,000 worth of Strategy shares on July 27, while buying similar assets worth $1,001 to $15,000 in the previous three days.

According to data compiled by Woofun AI, Strategy, as the listed company with the largest number of bitcoins in the world, holds 846,000 bitcoins. The single purchase amount on July 27 was the largest crypto-related transaction of the month, and is in line with the purchase amount in the $50,001 to $100,000 range disclosed by him on February 12.

In addition, he is also involved in the purchase of stocks (which appear to be missing in the original text), and the trading of shares of Bitcoin mining companies (apparently missing in the original text; suspected to be mining companies such as Riot/Mara) and (apparently missing in the original text). Since the declaration is based only on a monetary range rather than cumulative holdings, it is currently impossible to know exactly how many Strategy shares are left in its account, but the multiple small-value trading records listed in the file indicate that it operates frequently.

From the perspective of asset allocation as a whole, this increase in crypto holdings accounted for very little of Trump's investment activity in July. The documents revealed that he carried out a large-scale reduction in traditional technology stocks on July 20, selling between $5 million and $25 million (the original text seems to be missing here; suspected to be a technology stock) and Amazon (AMZN.US) stocks, which were accompanied by a number of other stock transactions worth between $1 million and $5 million.

Notably, Strategy's stock price has performed strongly recently, rising close to 30% over the past five trading days, and a cumulative increase of about 37% over the past month. This drastic adjustment of positions between traditional giants and crypto giants highlights the significant polarization of their investment portfolios in terms of risk appetite, even though the White House insists that decision-making power is not in the hands of Trump and his family.

At the macroeconomic policy level, although the US Congress is still playing games over legislation with a perfect market structure, the Trump administration is promoting the standardization of the cryptocurrency industry through administrative and regulatory measures. Although the US Senate failed to push for the Clarity Act to pass on September 15, regulators acted quickly: the US Securities and Exchange Commission approved limited-scale on-chain US stock trading after a two-day veto vote, and the US Commodity Futures Trading Commission relaxed registration requirements for software providers to enter the regulated derivatives market. On September 17, the US Commodity Futures Trading Commission further submitted a plan called “Cryptocurrency Asset Exchange Regulation and Cryptocurrency Asset Market Regulation” to the White House. Currently, the plan is still in its preliminary stages.

Meanwhile, the US House Financial Services Committee passed a bill legalizing the strategic Bitcoin reserve program with 28 votes in favor and 21 against, requiring that bitcoins stored in this reserve be stored for at least 20 years. Currently, the US government is estimated to hold 324,527 bitcoins. This legislative move marks Bitcoin's official entry into the field of national strategic reserves.