Bitcoin recovered from sharp early losses on Monday after President Donald Trump publicly reaffirmed his support for cryptocurrency, helping offset investor concerns sparked by another round of bitcoin sales from software company Strategy.
The world's largest cryptocurrency initially tumbled toward the $60,000 mark after Strategy, the largest corporate holder of bitcoin, disclosed it had sold an additional $216 million worth of the digital asset. The move renewed concerns about the company's long-term commitment to bitcoin after years of promoting a buy-and-hold strategy.
