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’s cryptocurrency-related bills were passed by Congress.
Trump Media published a notice on Monday. said It had purchased Bitcoin (BTCInvestment strategy incorporating a diversified portfolio 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 will continue to purchase “Bitcoin and Bitcoin-related assets” Depending on the market condition.
Four days earlier, the US House of Representatives had issued a notice. passed three bills The Republican Party and Trump have branded the following as “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 On Friday, President Trump signed into law two of the bills related to digital currency and the central bank’s crypto markets. But the Senate must first approve the remaining two measures.
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 legislation 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 the latest data, Nansen.aiPrice of President’s Memecoin Official TrumpTRUMPThe 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 a Bitcoin national reserve?
Trump’s March 2019 Schedule signed an executive order to establish a “Strategic Bitcoin Reserve” The 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
