Trump Media and Technology Group (TMTG), the company which owns US president Donald Trump’s Truth Social platform said that it had about $2 billion. “Bitcoin and Bitcoin-related securities” Only a couple of days ago, Trump had pushed through a number of important cryptocurrency bills in Congress.
Trump Media posted a message on its website Monday. said It had purchased Bitcoin (BTCAs part of an Investment Strategy announced in MayThe company allocated $1 billion in convertible senior secured bond proceeds and $1.5 billion of stock sales to buy the cryptocurrency.
The company stated that it would keep acquiring media companies. “Bitcoin and Bitcoin-related assets” According to the current market situation.
This notice was sent four days after the US House of Representatives passed three bills What Republicans and Trump called “the Trump Era” “crypto week.” Price of Bitcoin briefly surged As of this publication, the amount had dropped from $120,000 to $118.436.
Trump signed the GENIUS stablecoin bill The president signed the bill into law Friday. However, the two other bills relating to central bank digital currency and crypto market structure will require approval by the Senate.
Related: Trump’s crypto ventures have added $620M to his net worth — Report
World Liberty Financial is a crypto company that has its stablecoin. The GENIUS Bill may help Trump’s business. WLFI’s price has doubled over the past seven days, as investors have bought the token. voted to make it tradable.
According to the latest data, Nansen.aiThe price of Official Trump’s memecoin (TRUMPThe price of a ) increased by about 10%, to $10.45 from the previous week. In June, one company tied to Trump’s family owned 20% of World Liberty. The president was effectively the owner of that stake. controls 80% of his memecoin supply Through two companies.
What options is the White House considering for the Bitcoin national reserve?
Trump will be inaugurated in March signed an executive order to establish a “Strategic Bitcoin Reserve” The a “Digital Asset Stockpile” In the US. Most experts believed that it would be crypto confiscated by US authorities. But Trump’s advisers subsequently said the stockpile consisted of other digital currencies. looking into alternativesThe government has revalued its gold certificates.
Magazine: Trump’s crypto ventures raise conflict of interest, insider trading questions
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Source: cointelegraph.com
