Trump-Linked Accounts Bought MSTR Near Its Lows. The Filing Still Leaves…

Federal financial disclosures show accounts in which President Donald Trump is listed as beneficiary bought shares of Strategy, the bitcoin-heavy company formerly known for business intelligence, shortly before MSTR staged a major rebound.

The sequence, reported in an Office of Government Ethics periodic transaction report posted Sept. 22, is notable for both its timing and its limits. The filing lists 1,156 securities trades from July, including three transactions involving Strategy’s Class A shares on Nasdaq under the ticker MSTR.

Accounts Sold, Then Bought Back In

According to the filing, the accounts sold Strategy shares worth between $1,001 and $15,000 on July 8. They later bought Strategy in the same dollar range on July 24, then made a larger purchase valued between $50,001 and $100,000 on July 27.

A prior filing showed two Strategy sales on June 23 and June 24 totaling between $16,002 and $65,000, with no Strategy purchases reported for June.

Those trades occurred during a rough stretch for MSTR. The stock had traded in the high $180s in May, then fell as low as $81.81 after the June sales, according to the source material.

MSTR Jumped After the July Purchases

Strategy closed at $91.67 on July 24, the date of the first reported July repurchase. By Sept. 22, the stock closed at $167.33, putting it roughly 80% higher in about two months.

The July 27 purchase also came before a sharp move. Strategy closed at $98.65 that day, leaving the stock roughly 70% higher by Sept. 22.

The filing does not provide exact dollar amounts, share counts, execution prices or current holdings. Federal disclosure forms report transaction values in broad ranges, and periodic transaction reports cover reportable trades above $1,000 rather than an investor’s full portfolio.

Bitcoin’s Recovery Helped Drive Strategy

Strategy’s stock is closely tied to bitcoin because of the company’s large bitcoin treasury. The company had temporarily stopped adding bitcoin in July, with holdings unchanged at 843,775 BTC during the weeks of July 13–19 and July 20–26 while it sold common shares through its at-the-market program and built a U.S. dollar reserve of more than $3 billion.

Strategy later resumed bitcoin accumulation. By Sept. 21, the company reported holding 846,000 BTC acquired for an aggregate cost of about $63.8 billion.

That bitcoin exposure helps explain why MSTR can move sharply when bitcoin recovers. It does not show that anyone involved in the reported account trades knew a rebound was coming.

The Filing Does Not Say Trump Placed the Orders

The most important caveat is also the unresolved question: the disclosure names Trump as beneficiary of the accounts, but it does not state that he personally selected the stocks, chose the timing or executed the trades.

The White House and the Trump Organization have said the investment accounts are controlled by outside financial managers and that neither Trump nor his family directs what they buy or sell. Officials have also said some transactions follow model portfolios intended to track recognized indexes.

Political critics have questioned that explanation. In August, Sen. Elizabeth Warren, D-Mass., and Rep. Robert Garcia, D-Calif., pressed Trump over his financial disclosures, citing more than 14,000 reported stock trades worth as much as $1.06 billion in 2025 and another 3,555 trades worth as much as $500 million during the first quarter of 2026.

Those statements were allegations and requests for information from Democratic lawmakers, not findings that Trump directed trades or violated the law.

Strategy Was Only One Piece of a Much Larger Filing

The July report’s 1,156 transactions have been estimated at a combined value of $79 million to $270 million. Strategy represented only a small portion of the activity.

The filing also included July 20 sales of Microsoft and Amazon, each in the $5 million to $25 million range. Crypto-linked transactions included a Coinbase purchase and sales of MARA Holdings and Cleanspark, a bitcoin mining and artificial intelligence infrastructure company.

The documented MSTR sequence is striking: sell, buy back near depressed levels, then watch the stock rebound alongside bitcoin. What the filing does not answer is who made the call.