Crypto Stocks Rally Again — Trump Media (DJT) Holds Two-Thirds of Its Assets in Bitcoin

TradingKey - On Monday, July 21, U.S. tech stocks pushed the Nasdaq Composite above 21,000 for the first time, hitting a new all-time high. Crypto-linked equities outperformed the Magnificent Seven tech giants, with Trump Media & Technology Group (DJT) rising 6%, and Strategy (MSTR) — which holds over $71 billion in Bitcoin — rebounding 3%.

During trading hours on Monday, DJT announced that its Bitcoin purchases have now reached $2 billion, making the digital asset two-thirds of the company’s $3 billion in liquid assets — aligning with its earlier goal of becoming a Bitcoin-reserve-backed company.

The firm also disclosed plans to continue acquiring Bitcoin and related assets, including a newly announced $300 million options strategy that converts derivative positions into spot Bitcoin holdings.

On the same day, Strategy (MSTR) added 6,220 BTC at an average price of $118,940, spending around $739.8 million.

As of July 21, Strategy now holds a total of 607,770 BTC, with an average cost of $71,756 per BTC, bringing the total value to $71.83 billion.

Crypto Reserves Go Mainstream

With the Trump administration advancing three landmark crypto bills — including the GENIUS Act, CLARITY Act, and the Anti-CBDC Act — and proposing to open $9 trillion in U.S. pension funds (401(k)) to crypto investments, a growing number of U.S. listed companies have followed MSTR’s playbook, adopting Bitcoin and other crypto assets as strategic reserves.

Beyond Bitcoin, Ethereum (ETH), Solana (SOL), and XRP -linked stocks have gained traction — with many outperforming BTC-linked equities in recent sessions.

Market Reaction: Solana and ETH Stocks Lead the Rally

At the time of writing:

• Bitcoin (BTC) traded at $118,835, up 0.38% in 24 hours
• Ethereum (ETH) at $3,839.28, with ETH up over 2%
• Solana (SOL) surged nearly 7% in 24 hours

Among crypto-reserve-linked stocks:

• Upexi (UPXI), a Solana-reserve-focused firm, jumped 33.69%
• SBET, which holds Ethereum as a strategic asset, rose 12%

Analysts believe this latest wave of institutional adoption marks a turning point in the “crypto reserve” narrative, with more firms expected to follow suit in the second half of 2025.