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” Just a few weeks after Trump’s significant crypto bills advanced in Congress.
Trump Media published a notice on Monday. said Bitcoins (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.
Media company says it will continue to buy “Bitcoin and Bitcoin-related assets” Depending on the market condition.
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 signing of GENIUS may help Trump’s business. The company’s governance coin, WLFI has doubled its price in just seven days. voted to make it tradable.
According to data from 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.
Does the White House continue to explore options for a national Bitcoin reserve?
Trump will be inaugurated in March signed an executive order to establish a “Strategic Bitcoin Reserve” A “Digital Asset Stockpile” US. The majority of experts at the time thought that this stockpile was crypto taken by US authorities. However, Trump’s advisors said later they weren’t. 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
