U.S. President Donald Trump disclosed he bought up to $100,000 worth of Strategy shares in July.

Cointelegraph, a blockchain media outlet, reported on Tuesday that a disclosure submitted to the U.S. Office of Government Ethics showed Trump bought $50,001 to $100,000 worth of Strategy shares on July 27.

The disclosure showed Trump also bought an additional $1,001 to $15,000 worth of Strategy shares three days earlier. Strategy is the listed company with the largest bitcoin holdings, holding 846,000 BTC, according to BitcoinTreasuries.net. The July 27 purchase was the largest crypto-linked stock transaction identified in the disclosure.

Trump’s account also showed other trades beyond Strategy, including buying Coinbase shares and selling shares of bitcoin miners Mara Holdings and CleanSpark. The disclosure provided only transaction value ranges and did not specify the number of shares held, so it was not possible to confirm how many Strategy shares he currently holds.

The purchase made up only a portion of Trump’s overall portfolio. On July 20, he sold Microsoft and Amazon shares worth $5 million to $25 million each, and there were multiple purchases and sales of other stocks during the same month in $1 million to $5 million blocks. The White House told CNBC on the day that Trump’s stock and bond portfolio is independently managed by a third financial institution, and that Trump and his family are not involved in its management.

The market is also focusing on Strategy’s share price moves rather than the timing of the disclosure. Strategy shares have risen about 30 percent over the past 5 trading days and about 37 percent over the past month, according to Yahoo Finance. Trump’s latest purchase is at the same level as his Strategy buy on Feb. 12 recorded by BitcoinTreasuries.net. Trump’s account has also reported several small Strategy share purchases and sales so far this year.

The disclosure came as the Trump administration pushes policies supporting the cryptocurrency industry through federal regulators and Congress. In Congress, passage of a comprehensive market-structure bill has been delayed. The Senate failed to advance a procedural vote on the Clarity bill on Sept. 15, while regulators have been taking individual actions using existing authority.

The U.S. Securities and Exchange Commission allowed limited on-chain trading of tokenised U.S. stocks through a temporary exemption two days after the vote failed. The U.S. Commodity Futures Trading Commission also eased registration requirements for some software companies that provide access to regulated derivatives markets. On Sept. 17, it sent a broader draft rulemaking proposal titled "Regulation of Crypto-Asset Trading and Regulation of Crypto-Asset Markets" to the White House for review. The proposal is still in an early stage and has not been converted into a formal proposal.

Bitcoin-related policy is also moving in parallel. The U.S. House Financial Services Committee last week passed 28-21 a bill to codify Trump’s plan for a strategic bitcoin reserve. The bill requires that bitcoin included as reserve assets be held for at least 20 years. The U.S. government currently holds about 324,527 BTC, according to Arkham Intelligence.

As a result, Trump’s disclosure of Strategy purchases is increasingly likely to draw additional market attention beyond a simple stock trade, aligning with the administration’s cryptocurrency policy direction. But because the disclosure system does not confirm actual remaining holdings or an exact share count, the focus is expected to be on whether further disclosures show changes in holdings.