Bitcoin surges on Trump praise as Germany eyes crypto tax, while Ethereum sees institutional buying

Bitcoin rallied to about $63,850 after President Donald Trump publicly voiced support for the cryptocurrency, sparking a 1.8% gain and prompting the first net inflow into spot ETFs in July – $221.7 million – after a period of large outflows. Large investors added roughly 270,000 BTC worth $16.7 billion, while the German government prepared a tax reform that would end the one‑year tax‑free holding period for crypto gains, treating them like ordinary capital income.

At the same time, Ethereum attracted institutional capital as BitMine, an Ethereum treasury firm, bought 42,197 ETH, raising its total holdings to 5.74 million ETH (about 4.8% of the supply) and bringing its overall crypto, cash and securities assets to $11.1 billion. Conversely, Michael Saylor’s Strategy sold 3,588 BTC for roughly $216 million to fund dividend payments, yet it still retains 843,775 BTC, the largest corporate Bitcoin stash.

These parallel moves reflect a shift in crypto market dynamics, with Bitcoin gaining price momentum from political headlines and regulatory uncertainty, while Ethereum benefits from dedicated treasury accumulation.